Note: The following is a description of the paper, and not the actual abstract as it appeared in the journal. An important mainstream macroeconomic explanation of differences in inflation rates between countries, here coined the ?orthodox' view, emphasises the independence of the central bank as...

The ongoing post-pandemic inflation burst has put the monetary policy framework, its governance alternatives, and the evolution in central banking to a critical test. investigates the causes of this inflationary process and explores the extent to which central banks may have contributed to it....

On theoretical grounds, a clear distinction exists between central bank independence and inflation aversion. In the conduct of monetary policy, both contribute to lower inflation. In this paper, we re-examine empirically the nexus between central bank independence and inflation for a large...