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Countries in transition often face high levels of inflation. This paper discusses two ways to reduce inflation: the …
Persistent link: https://www.econbiz.de/10014130902
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 empirically re-examine the nexus between … central bank independence and inflation for a large sample of advanced and developing countries over the period 1992-2014 by …
Persistent link: https://www.econbiz.de/10014078082
banks to use interest rates to tackle inflation. However, as the financial crisis showed, financial stability is also …
Persistent link: https://www.econbiz.de/10013297767
This paper provides an empirical analysis of the association between central bank independence (CBI) and inflation for … relationship between CBI and inflation disappears …
Persistent link: https://www.econbiz.de/10014357900
This paper analyzes the effects of legal central bank independence (CBI) on inflation volatility in developing … countries. We discuss why CBI should curb inflation volatility, independently from its effect via lowering inflation levels … the endogeneity of CBI and inflation. Our results are robust to alternative measurements of the main variables, different …
Persistent link: https://www.econbiz.de/10014344441
The ongoing post-pandemic inflation burst has put the monetary policy framework, its governance alternatives, and the … politicized yet independent model of central banking over the past two decades on the inflation burst. The study identifies four … demanding advanced stages of the fight against inflation. It is anticipated that this episode will contribute to complete the …
Persistent link: https://www.econbiz.de/10014349722
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 sample of advanced and developing countries over the period 1992–2014 by …
Persistent link: https://www.econbiz.de/10014258514
We study the link between central bank independence and inflation by providing narrative and empiricial evidence based …, central banks turned into de facto development banks under the aegis of governments, sawing the seeds for high inflation. It … took the high inflation episodes of the 1970s and 1980s and the associated major decline in real income, and growing social …
Persistent link: https://www.econbiz.de/10014244524
Why do dynamic inconsistencies in monetary policy exist? In this paper we present a traditional model with output inefficiencies, but we allow for monetary policy to be influenced by the various constituencies in the economy, that pressure the Congress to in turn pressure the central bank to...
Persistent link: https://www.econbiz.de/10014208793
bank independence (CBI) is correlated with lower inflation rates. This CBI-inflation correlation is not well explained by … inflation and subsequent real GDP growth. Inflation's adverse effect on investment appears to be one significant channel through … which the relationship between inflation and growth arises …
Persistent link: https://www.econbiz.de/10014088421