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| Tekijä: | Jordan, T. |
| Otsikko: | Disinflation costs, accelerating inflation gains, and central bank independence |
| Lehti: | Weltwirtschaftliches Archiv
1997 : VOL. 133:1, p. 1-21 |
| Asiasana: | ECONOMICS INFLATION CENTRAL BANKS |
| Kieli: | eng |
| Tiivistelmä: | It is well known that countries with more independent central banks have on average lower inflation rates. There is also some evidence that the overall macroeconomic performance with respect to real growth is not related to the degree of central bank independence. Central bank independence (CBI) is therefore sometimes seen as a "free lunch". The benefits of CBI are usually attributed to the ability of independent central banks to commit to low inflation. |
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