Central Bank Independence : An Update of Theory and Evidence

TLDR: This article reviewed recent research on central bank independence and concluded that the negative relationship between CBI and inflation is quite robust and pointed out various challenges that have been raised against previous empirical findings on CBI.

Abstract: This paper reviews recent research on central bank independence (CBI) After we have distinguished between independence and conservativeness, research in which the inflationary bias is endogenised is reviewed Finally, the various challenges that have been raised against previous empirical findings on CBI are discussed We conclude that the negative relationship between CBI and inflation is quite robust

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Tilburg University
Central Bank Independence
Bevger, H.; de Haan, J.; Eijffinger, S.C.W.
Publication date:
2000
Link to publication in Tilburg University Research Portal
Citation for published version (APA):
Bevger, H., de Haan, J., & Eijffinger, S. C. W. (2000).
Central Bank Independence: An Update of Theory and
Evidence
. (CESifo Working paper Series; No. 255). Center for Economic Studies (CES).
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Download date: 10. aug.. 2022

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