important mainstream macroeconomic explanation of differences in inflation rates between countries, here coined the ?orthodox … independent central banks as causes for low inflation might be considered quite strong, it is argued in this paper that the … sensitivity indicator for the inflation awareness in these countries is obtained. It can be shown that these sensitivity …

This paper proposes that central bank independence alone is insufficient to explain low inflation. It argues instead … that central bank independence may be interconnected with public attitudes towards inflation via a historical feedback … process that has led to an anti-inflation culture and public consensus on monetary stability in countries with low inflation …