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The effect of central bank transparency on inflation persistence

Author

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  • Georgios Oikonomou
  • Stephanos Papadamou
  • Eleftherios Spyromitros

Abstract

In this paper, we examine the effect of central bank transparency on inflation persistence, using panel data analysis. The existing literature has shown a significant impact of central bank transparency on macroeconomic variables, such as inflation, but not many efforts have been made about its effect on inflation persistence. We use yearly data for 14 countries and the Eurozone (ECB). We find that monetary policy transparency has a negative statistically significant impact on inflation persistence, while controlling also for important variables such as GDP growth, interest rates, economic openness and unit labour cost.

Suggested Citation

  • Georgios Oikonomou & Stephanos Papadamou & Eleftherios Spyromitros, 2021. "The effect of central bank transparency on inflation persistence," Economics and Business Letters, Oviedo University Press, vol. 10(1), pages 58-68.
    • Handle: RePEc:ove:journl:aid:14145
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    File URL: https://reunido.uniovi.es/index.php/EBL/article/view/14145
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    Cited by:

    1. Taniya Ghosh & Yadavindu Ajit, 2023. "Central bank transparency, the role of institutions and inflation persistence," Indira Gandhi Institute of Development Research, Mumbai Working Papers 2023-012, Indira Gandhi Institute of Development Research, Mumbai, India.

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