Diana, Giuseppe; Sidiropoulos, Moise - Bureau d'Économie Théorique et Appliquée (BETA), … - 2003
This paper examines the impact of central bank independence on inflation persistence. Our theoretical analysis predicts … that a higher degree of central bank independence leads to a lower inflation persistence and therefore to a higher speed of … disinflation. The empirical results, provided using a 18 OECD countries sample, show that central bank independence is negatively …