Central bank independence and sacrifice ratios
AbstractDo countries with independent central banks enjoy lower output costs during disinflation? Credibility should allow independent central banks to adjust quicker and thereby suffer lower output costs. The objective of this study is to test the credibility hypothesis that countries with independent central banks suffer lower output losses over a disinflationary cycle than do countries with less independent central banks. Copyright Kluwer Academic Publishers 1996
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Bibliographic InfoArticle provided by Springer in its journal Open Economies Review.
Volume (Year): 7 (1996)
Issue (Month): 1 (January)
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Web page: http://www.springerlink.com/link.asp?id=100323
central bank independence; sacrifice ratios;
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- David Romer, 1991.
"Openness and inflation: theory and evidence,"
Federal Reserve Bank of San Francisco, issue Nov.
- Cukierman, Alex & Kalaitzidakis, Pantelis & Summers, Lawrence H. & Webb, Steven B., 1993. "Central bank independence, growth, investment, and real rates," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 95-140, December.
- repec:aah:aarhec:1993-8 is not listed on IDEAS
- Eijffinger, S.C.W. & Schaling, E., 1992. "Central bank independence: Criteria and indices," Research Memorandum 548, Tilburg University, Faculty of Economics and Business Administration.
- Laurence Ball, 1993.
"What Determines the Sacrifice Ratio?,"
NBER Working Papers
4306, National Bureau of Economic Research, Inc.
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