Central bank independence and sacrifice ratios
Do 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
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- 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.
- Laurence Ball, 1994.
"What Determines the Sacrifice Ratio?,"
in: Monetary Policy, pages 155-193
National Bureau of Economic Research, Inc.
- David Romer, 1991.
"Openness and Inflation: Theory and Evidence,"
NBER Working Papers
3936, National Bureau of Economic Research, Inc.
- repec:dgr:kubrem:1992548 is not listed on IDEAS
When requesting a correction, please mention this item's handle: RePEc:kap:openec:v:7:y:1996:i:1:p:5-18. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Guenther Eichhorn)or (Christopher F. Baum)
If references are entirely missing, you can add them using this form.