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Julita Haber and Robyn Brouer

on selection decisions. Journal of Managerial Psychology, 21: 200-210, https://doi.org/10.1108/02683940610659551 Baczyńska, A. (2015). Analytical, practical and emotional intelligence and line manager competencies. Journal of Management and Business Administration. Central Europe, 23(4): 34-54, https://doi.org/10.7206/mba.ce.2084-3356.156 Barbuto, J.E. and Moss, J.A. (2006). Dispositional effects in intra-organizational influence tactics: A meta-analytic review. Journal of Leadership & Organizational Studies, 12(3): 30-52, https

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Anna Baczynska and Pawel Korzynski

of Leadership. American Psychologist, 62(1): 34-42, https://doi.org/10.1037/0003-066X.62.1.34 Westley, F. and Mintzberg, H. (1989). Visionary leadership and strategic management. Strategic Management Journal, 10(S1): 17-32, https://doi.org/10.1002/smj.4250100704 Yukl, G. and Chavez, C. (2002). Influence tactics and leader effectiveness. In: L. Neider and C.A. Schriesheim (eds.), Leadership. Greenwich, Connecticut: New Information Age Publishing. Yukl, G. and Falbe, C.M. (1992). Consequences for managers of using

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Witold Morawski

, XI (5). Selznick, Ph. (1960). The Organizational Weapon: A Study of Bolshevik Strategy and Tactics . Glencoe, Il.: Free Press. Sennett, R. (2006). The Culture of New Capitalism . New Haven & London: Yale University. Sztompka, P. (2016). Kapitał społeczny. Teoria przestrzeni międzyludzkiej . Kraków: Wydawnictwo Znak. Thaler, R.H. (2015). Misbehaving. The Making of Behavioural Economics . New York and London: W.W. Norton & Company. Weber, M. (1994). Etyka protestancka a duch kapitalizmu . Lublin: Wydawnictwo Test. Weber, M

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Izabela Koładkiewicz

Roberts, J. (2013). Applying the ‘Comply-or-Explain’ Principle: Discursive Legitimacy Tactics with Regard to Codes of Corporate Governance. Journal of Management Governance, 17: 791-826, https://doi.org/10.1007/s10997-011-9209-y Seidl, D. (2007). Standard Setting and Following in Corporate Governance: An Observation - Theoretical Study of the Effectiveness of Governance Codes. Organization, 14(5): 705-727, https://doi.org/10.1177/1350508407080316 Sergakis, K. (2013). EU Corporate Governance: A New Supervisory Mechanism for the ‘Comply or

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Florin Dumiter, Petre Brezeanu, Claudia Radu and Florin Turcas

Abstract

Central bank independence represents the core element of assessing the complex relationship between government and central bank, having at background the fundamental issue of a free monetary policy decision-making process from the hands of the political circle. However, central bank independence is a multilevel concept within some social, economic and behavioral implications both for the central banks and for the society at whole. Central bank independence is needed in order to establish an autonomous central bank with a high degree of freedom in choosing its’ instruments, objectives, techniques and tactics. Moreover, a high degree of transparency for the public disclosure and monitoring of central bank operation and transaction is needed for the social barometer of the central bank. Consequently the central bank must have a high degree of accountability and responsibility vis - á - vis of the most democratic institution, i.e. Parliament. In this article it is presented a comprehensive study regarding the complex relationship between central bank independence and inflation by modeling these two monetary policy panacea, in order to make a fine tuning regarding the causal relationship established in a heterodox manner.