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National Economic Education
Video Competition

Enter the St. Louis Fed's Spring 2011 YouTube Contest!

The St. Louis Fed is sponsoring a YouTube video contest. We want your original video that explains the concept of central bank independence. What does independence mean for a nation's central bank? Let us know through your video creation! (See the links below for additional information on this topic.)

The guidelines are simple. As an individual or as part of a team, submit videos no more than five minutes in length that explain the concept of central bank independence. The videos should be geared to a high school-aged audience. The contest is open to anyone who is age 13 years or older, is eligible to receive a U.S. savings bond, and resides in the United States.

The contest runs Jan. 24 - April 18, 2011. Videos must be submitted to the St. Louis Fed by 5 p.m. (CST) on Monday, April 18, 2011 to be eligible. We'll announce the winners in May. For a complete list of contest rules and forms, download the submission packet. Also, you can download this flyer to use as a handout, post on bulletin boards and web sites, and more.

Prizes will be awarded to the top four videos:

• First place: $1,000 U.S. Savings Bond
• Second place: $750 U.S. Savings Bond
• Third place: $500 U.S. Savings Bond
• People's Choice: $250 U.S. Savings Bond

Better yet, the Fed will use your video as part of its economic education program. The video will be posted on the Fed's YouTube channel and will be seen by high-school students nationwide. Good luck and get started!

Information and Resources on Central Bank Independence

Christopher J. Waller, Why the Fed is a Well-Designed Central Bank, Annual Report 2009 of the Federal Reserve Bank of St. Louis:

• Why the Fed Is a Well-Designed Central Bank
• The Power of Money
• Central Bank Independence and Inflation
• A Series of Checks and Balances
• Will the Financial Crisis Further Limit the Fed's Independence?
• A Well-Designed Institution

Other Links

• Alberto Alesina and Lawrence H. Summers, "Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence." Journal of Money, Credit, and Banking, Vol. 25, No. 2, May 1993, pp. 151-62.
  Alternate Link
• Christopher Crowe and Ellen E. Meade, "The Evolution of Central Bank Governance around the World," Journal of Economic Perspectives, Vol. 21, No. 4, Fall 2007, pp. 69-90.
• Carl E. Walsh, "Central Bank Independence," The New Palgrave Dictionary of Economics Online, 2008
• Alex Cukierman, "Central Bank Independence and Monetary Policymaking Institutions Past, Present and Future, European Journal of Political Economy, Vol. 24, 2008, pp. 722-36 (abstract)