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Central bank independence and inflation: a note

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  • Charles T. Carlstrom
  • Timothy S. Fuerst

Abstract

We document increased central bank independence within the set of industrialized nations. This increased independence can account for nearly two thirds of the improved inflation performance of these nations over the last two decades.

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Bibliographic Info

Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 0621.

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Date of creation: 2006
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Handle: RePEc:fip:fedcwp:0621

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Keywords: Banks and banking; Central ; Inflation (Finance);

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Cited by:
  1. repec:rdg:wpaper:em-dp2011-04 is not listed on IDEAS
  2. Dalla Pellegrina, L. & Masciandaro, D. & Pansini, R.V., 2013. "The central banker as prudential supervisor: Does independence matter?," Journal of Financial Stability, Elsevier, Elsevier, vol. 9(3), pages 415-427.
  3. Etienne Farvaque & Muhammad- Azmat Hayat & Alexander Mihailov, 2012. "Who Supports the ECB? Evidence from Eurobarometer Survey Data," Working Papers hal-00995032, HAL.
  4. Hayat, Muhammad Azmat & Farvaque, Etienne, 2012. "Public attitudes towards central bank independence: Lessons from the foundation of the ECB," European Journal of Political Economy, Elsevier, vol. 28(4), pages 512-523.
  5. Hielscher, Kai & Markwardt, Gunther, 2012. "The role of political institutions for the effectiveness of central bank independence," European Journal of Political Economy, Elsevier, vol. 28(3), pages 286-301.
  6. Michael Parkin, 2013. "Central Bank Laws and Monetary Policy Outcomes: A Three Decade Perspective," University of Western Ontario, Economic Policy Research Institute Working Papers, University of Western Ontario, Economic Policy Research Institute 20131, University of Western Ontario, Economic Policy Research Institute.
  7. Michael Parkin, 2014. "The Effects of Central Bank Independence and Inflation Targeting on Macroeconomic Performance: Evidence from Natural Experiments," Working Paper Series, The Rimini Centre for Economic Analysis 11_14, The Rimini Centre for Economic Analysis.
  8. Mark Mietzner & Dirk Schiereck, 2011. "Staatsfonds als Ankerinvestoren: Eine Note zum Einstieg von Aabar bei Daimler," Perspektiven der Wirtschaftspolitik, Verein für Socialpolitik, Verein für Socialpolitik, vol. 12(1), pages 92-100, 02.
  9. Michael Parkin, 2013. "The Effects of Central Bank Independence and Inflation Targeting on Macroeconomic Performance: Evidence from Natural Experiments," University of Western Ontario, Economic Policy Research Institute Working Papers, University of Western Ontario, Economic Policy Research Institute 20133, University of Western Ontario, Economic Policy Research Institute.
  10. Dumiter, Florin Cornel, 2011. "Estimating the Impact of Central Bank Independence upon Macroeconomic Performance using a Panel Data Model," Journal for Economic Forecasting, Institute for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 106-128, December.
  11. Denise Côté & Carlos de Resende, 2008. "Globalization and Inflation: The Role of China," Working Papers, Bank of Canada 08-35, Bank of Canada.

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