We study the link between central bank independence and inflation by providing narrative and empiricial evidence based on Latin America's experience over the past 100 years. We present a novel historical dataset of central bank independence for 17 Latin American countries and recount the rocky...

Recent developments in the Western Hemisphere-that is, the United States/Canada and Latin America and the Caribbean (LAC)-have been dominated by the impact of two distinct global shocks: the COVID-19 pandemic and then the Russian invasion of Ukraine. A third shock-the tightening of financial...