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Central Bank Independence and the Price-Output-Variability Trade-off

Author

Listed:
  • Landström, Mats

    (School of Technology and Business Studies)

Abstract

Data on central bank independence (CBI) and implementation dates of CBI-reforms were used to investigate the relationship between CBI and a possible trade-off between inflation variability and output variability. No such trade-off was found, but there might still be stabilization gains from CBI-reform.

Suggested Citation

  • Landström, Mats, 2013. "Central Bank Independence and the Price-Output-Variability Trade-off," Umeå Economic Studies 868, Umeå University, Department of Economics.
    • Handle: RePEc:hhs:umnees:0868
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    More about this item

    Keywords

    price stability; output stability; monetary policy; Taylor curve; inflation;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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