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Ľubica Simanová and Renata Stasiak-Betlejewska

Auto College, SAU working papers. Mladá Boleslav. [18] Tomek G. & Vavrova V. (2001). Production Management. Prague: Grada. [19] Basl, J. & Blaţíček R. (2012). Enterprise Information Systems: Enterprise in the Information Society. Prague: Grada. [20] Feylizadeh, M. R. & Bagherpour, M. (2011). Application of Optimization Techniques in Production Planning Context: A Review and Extension. International Journal of Manufacturing Systems, 1 (1), (pp. 1-8). [21] Heizer, J. H. (1992). Production and operations management: Strategies and tactics. Boston

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Florin Dumiter, Petre Brezeanu, Claudia Radu and Florin Turcas


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.

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Caner Ünal, Aslıhan Dursun and Meltem Caber

] Nishiyama, K. (1996). Welcoming the Japanese visitor: Insights, tips, tactics. University of Hawaii Press: Honolulu [27] Oppewal, H., Huybers, T., & Crouch, G. I. (2015). Tourist destination and experience choice: A choice experimental analysis of decision sequence effects. Tourism Management, 48, 467-476 [28] Paramita, S. (2008). Wedding tourism and India, Atna - Journal of Tourism Studies, 3(1), 25-35 [29] Pearce, P. L., & Lee, U. I. (2005). Developing the travel career approach to tourist motivation. Journal of Travel Research, 43(3), 226

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Markku Sotarauta

, steering and democracy. Oxford: Oxford University Press. Rhodes, R. A. W. (2000). Governance and public administration. In J. Pierre (Ed.), Debating governance: Authority, steering and democracy (pp. 54-90). Oxford: Oxford University Press. Riggio, R. E., Chaleff, I., & Lipman-Blumen, J. (2008). The art of followership: How great followers create great leaders and organizations. San Francisco: Jossey-Bass (a Wiley imprint). Sotarauta, M. (2009). Power and influence tactics in the promotion of regional development: An