panel regressions, the paper finds a negative relationship between legal central bank independence (CBI) and inflation. This … result holds for three alternative measures of CBI, and after controlling for international inflation, banking crises, and … paper fails, however, to find a causal relationship running from CBI to inflation. …

correlated with low inflation rates. By taking the endogeneity of CBI into account, however, there is no reason to believe the … correlation between CBI and low inflation tells us anything about causality. …

economic theory had no decisive influence on the outcome, the central bank’s role as a political actor in its own right and in …

This study attempts to examine the minimum requirements for adopting an inflation targeting framework in Malawi. First …, we examined four pre- requisites of an inflation targeting framework: a fairy long track record of low and stable … inflation; a degree of independence; having a sole target; and the existence of a predictable and stable relationships between …

equities fail the test as inflation hedges, as had been quite widely believed, but that they take so long to pass. …

based on the Fiscal Theory of the Price Level (FTPL). The re sults show that a credibly fixed exchange rate is inconsistent …