Authors: Mats Landström
Addresses: School of Technology and Business Studies, Dalarna University, SE-791 88 Falun, Sweden
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.
International Journal of Monetary Economics and Finance, 2014 Vol.7 No.2, pp.122 - 134
Available online: 12 Oct 2014 *Full-text access for editors Access for subscribers Purchase this article Comment on this article