The effects of Central Bank independence and the rate of turnover on the Brazilian inflation. Nowadays, the belief is strong in the Brazilian federal government that operational central bank independence is a basic condition to assure price stability. The literature concerning this subject...

This paper builds on earlier studies of central bank independence (CBI), making a comparison of the rankings of central banks for 15 countries through three different indices. The analysis reveals that there is no shared concept of CBI and that the indices are a measure of the inflation bias....