evaluated with respect to the relevant institutional rules. The model predicts that while both inflation and budget deficits are … independence. This result obtains due to optimizing agents who internalize the burden of spending: inflation. Although not …

Inflation in advanced economies is low by historical standards but there is no threat of deflation. Slower economic … growth is caused by supply-side constraints rather than low inflation. Below-the-target inflation does not damage the … reputation of central banks. Thus, central banks should not try to bring inflation back to the targeted level of 2%. Rather, they …

This paper analyzes the relationship between central bank independence and inflation in a panel of 182 countries for … rate of governors. The results indicate that greater central bank independence is associated with lower levels of inflation … inflation volatility and central bank independence, although the results are statistically significant only when using the full …

to the share of the term in office elapsed, political and regime instability, the occurrence of elections, and inflation … independence. This is confirmed in models for cross-section inflation in which TOR becomes insignificant once its endogeneity is …

We contrast the influence of demography and central bank independence on inflation. The recent demographic trends in … developed countries are shown to weight more on inflation than central bank independence, while the contrary stands for the …

government and economic activities is inflation perfectly guaranteed not to accelerate. A truly independent central bank is …

for controlling inflation is examined. Employing two indices, which serve as proxies for CBI, LegalCBI and TOR, the … inverse relationship between CBI and inflation was confirmed. The interactions between the variability of inflation and CBI … were also investigated. Furthermore, evidence was found to suggest that the rate of turnover Granger causes inflation. …

panel regressions, the paper finds a negative relationship between legal central bank independence (CBI) and inflation. This … result holds for three alternative measures of CBI, and after controlling for international inflation, banking crises, and … paper fails, however, to find a causal relationship running from CBI to inflation. …

these matters. These postulates are used to frame accounts of the Bretton Woods System and its collapse, the Great Inflation … success of inflation targeting. Though monetary policy seems rather successful at present, certain weaknesses in currently …

expertise of the central bank. These broad trends help to explain some of the inflation experience of the 1980s and 1990s which …