inflation and if they faced a high probability of being replaced. No such effects were found for OECD countries. Copyright …

inflation and if they faced a high probability of being replaced. No such effects were found for OECD-countries. …

country had been characterized by high variability in inflation and if they faced a high probability of being replaced. No … reform matters for inflation performance. The analysis is based on a dataset including the possible occurence of CBI reforms … in 132 countries during the period 1980-2005. CBI reform is found to have contributed to bringing down inflation in high-inflation …

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 high inflation rates are included. But countries with lower … inflation have reduced it without institutional reforms granting central banks more independence, undermining the theoretical …

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 high inflation rates are included. But countries with lower … inflation have reduced it without institutional reforms granting central banks more independence, undermining the theoretical …

, as headline inflation dropped inside the targeted band of 3% ± 1 percentage point recently. …

indicate that for the period analyzed, Lucas’s hypothesis explains fairly well why the trade-off between inflation and output …

This paper examines the relationship between cyclical output and inflation in models commonly used for monetary policy … finding is that these models imply a strong negative relationship between inflation and output, a result that is at odds with …

, these preferences fail to generate observed inflation inertia and output persistence after a monetary policy shock …

at containing inflation and the deviation of output from potential within pre-specified bounds. We develop formal tools … this loss function under weak assumptions may be estimated from realizations for inflation and output gap data even in the … parameters with respect to the inflation and output objectives during the Greenspan period. We formally test for and reject the …