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Do Central Bank Independence Reforms Matter for Inflation Performance?

April 26, 2017Bank Independence inflation PERFORMANCE reforms

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Do Central Bank Independence Reforms Matter for Inflation Performance?

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No 791, Umeå Economic Studies from Umeå University, Department of Economics Abstract: A difference-in-difference approach was used to investigate whether Central Bank Indepencence (CBI) reforms matter for inflation, based on a novel data set including the possible occurence of such reforms in 132 countries during the period 1980-2003. CBI-reforms are found to have contributed to bringing down high inflation rates where those existed, but they seem unrelated to performance in low-inflation countries. Keywords: Monetary policy; institutional reforms; central banking; price stability; political economy; delegation (search for similar items in EconPapers) JEL-codes: E52 E58 (search for similar items in EconPapers) New Economics Papers: this item is included in nep-cba, nep-mac and nep-mon Date: 2009-11-27 Track citations by RSS feed Downloads: (external link) http://www.econ.umu.se/DownloadAsset.action?conten … Id=3&assetKey=ues791 (application/pdf) Related works: This item may be availa