Daunfeldt, Sve-Olov; Landström, Mats; Rudholm, Niklas - Institutionen för Nationalekonomi, Umeå Universitet - 2013
Using data on the occurrence of central bank independence (CBI) reforms in 131 countries during 1980-2005, we test whether they were important in reducing inflation and maintaining price stability. CBI reforms are found to have reduced inflation on average 3.31% when countries with historically...