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Central Bank independence

Author

Listed:
  • Vasile DEDU

    (Bucharest Academy of Economic Studies)

  • Tiberiu STOICA

    (Bucharest Academy of Economic Studies)

Abstract

In this paper we present the key aspects regarding central bank’s independence. Most economists consider that the factor which positively influences the efficiency of monetary policy measures is the high independence of the central bank. We determined that the National Bank of Romania (NBR) has a high degree of independence. NBR has both goal and instrument independence. We also consider that the hike of NBR’s independence played an important role in the significant disinflation process, as headline inflation dropped inside the targeted band of 3% ± 1 percentage point recently.

Suggested Citation

  • Vasile DEDU & Tiberiu STOICA, 2012. "Central Bank independence," Theoretical and Applied Economics, Asociatia Generala a Economistilor din Romania - AGER, vol. 0(8(573)), pages 97-102, August.
  • Handle: RePEc:agr:journl:v:8(573):y:2012:i:8(573):p:97-102
    as

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