Central bank independence and the price-output-variability trade-off

Mats Landström

International Journal of Monetary Economics and Finance, 2014, vol. 7, issue 2, 122-134

Abstract: Data on central bank independence (CBI) and implementation dates of CBI-reforms were used to investigate the relationship between CBI and a possible trade-off between inflation variability and output variability. No such trade-off was found, but there might still be stabilisation gains from CBI-reform.

Keywords: price stability; output stability; monetary policy; Taylor curve; inflation variability; output variability; central bank independence; central banks; banking reform. (search for similar items in EconPapers)
Date: 2014
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijmefi:v:7:y:2014:i:2:p:122-134

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