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| Tekijä: | Brumm, H. |
| Otsikko: | Inflation and central bank independence: conventional wisdom redux |
| Lehti: | Journal of Money, Credit and Banking
2000 : NOV, VOL. 32:4 PART 1, p. 807-819 |
| Asiasana: | INFLATION CENTRAL BANKS POLITICS |
| Kieli: | eng |
| Tiivistelmä: | Until recently there existed a broad consensus that an important institution for combating inflation is a central bank insulated from political influence. This conventional wisdom has been challenged by, among others, Campillo and Miron (1997), who present evidence purpoting to show that if an inflation regression equation is expanded to include not only their proxy for central bank independence (CBI) but other regressions as well, then the negative correlation between inflation and CBI vanishes. |
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