487
Views
1
CrossRef citations to date
0
Altmetric
Research Article

Central bank independence and low inflation: who leads the dance?

ORCID Icon

References

  • Abiad, A., and A. Mody. 2005. “Financial Reform: What Shakes It? What Shapes It?” American Economic Review 95 (1): 66–88. doi:10.1257/0002828053828699.
  • Agur, I. 2018. “Populism and Central Bank Independence: Comment.” Open Economies Review 29 (3): 687–693. doi:10.1007/s11079-018-9497-9.
  • Agur, I. 2019. “Revisiting the Institutional Determinants of Central Bank Independence.” Applied Economics Letters 26 (19): 1649–1654. doi:10.1080/13504851.2019.1591586.
  • Barro, R. J., and D. B. Gordon. 1983. “Rules, Discretion and Reputation in a Model of Monetary Policy.” Journal of Monetary Economics 12 (1): 101–121. doi:10.1016/0304-3932(83)90051-X.
  • Berger, H., J. de Haan, and S. C. W. Eijffinger. 2001. “Central Bank Independence: An Update of Theory and Evidence.” Journal of Economic Surveys 15 (1): 3–40. doi:10.1111/1467-6419.00131.
  • Cukierman, A. 2008. “Central Bank Independence and Monetary Policymaking Institutions – Past, Present and Future.” European Journal of Political Economy 24 (4): 722–736. doi:10.1016/j.ejpoleco.2008.07.007.
  • Cukierman, A., S. B. Webb, and B. Neyapti. 1992. “Measuring the Independence of Central Banks and Its Effect on Policy Outcome.” The World Bank Economic Review 6 (3): 353–398. doi:10.1093/wber/6.3.353.
  • de Haan, J., and S. C. W. Eijffinger. 2019. “The Politics of Central Bank Independence.” R. Congleton, B. Grofman, and S. Voigt, Eds. Oxford Handbook of Public Choice, (2), pp. 499–519, Oxford University Press. doi:10.1093/oxfordhb/9780190469771.001.0001.
  • Dincer, N. N., and B. Eichengreen. 2014. “Central Bank Transparency and Independence: Updates and New Measures.” International Journal of Central Banking 10 (1): 189–253.
  • Dreher, A., J.-E. Sturm, and J. de Haan. 2010. “When Is a Central Bank Governor Replaced? Evidence Based on a New Data Set.” Journal of Macroeconomics 32 (3): 766–781. doi:10.1016/j.jmacro.2010.04.001.
  • Dumitrescu, E.-I., and C. Hurlin. 2012. “Testing for Granger Non-Causality in Heterogeneous Panels.” Economic Modelling 29 (4): 1450–1460. doi:10.1016/j.econmod.2012.02.014.
  • Garriga, A. C. 2016. “Central Bank Independence in the World: A New Data Set.” International Interactions 42 (5): 849–868. doi:10.1080/03050629.2016.1188813.
  • Garriga, A. C., and C. M. Rodriguez. 2020. “More Effective than We Thought: Central Bank Independence and Inflation in Developing Countries.” Economic Modelling 85 (1): 87–105. doi:10.1016/j.econmod.2019.05.009.
  • Goodhart, C., and R. Lastra. 2018. “Populism and Central Bank Independence.” Open Economies Review 29 (1): 49–68. doi:10.1007/s11079-017-9447-y.
  • Klomp, J., and J. de Haan. 2010. “Inflation and Central Bank Independence: A Meta-Regression Analysis.” Journal of Economic Surveys 24 (4): 593–621. doi:10.1111/j.1467-6419.2009.00597.x.
  • Laurens, B. J., K. Eckhold, D. King, N. Maehle, A. Naseer, and A. Durré. 2015. “The Journey to Inflation Targeting: Easier Said than Done. The Case for Transitional Arrangements along the Road.” IMF Working Paper 15/136.
  • Lopez, L., and S. Weber. 2017. “Testing for Granger Causality in Panel Data.” Stata Journal 17 (4): 972–984. doi:10.1177/1536867X1801700412.
  • Masciandaro, D., and D. Romelli. 2015. “Ups and Dows. Central Bank Independence from the Great Inflation to the Great Recession: Theory, Institutions and Empirics.” Financial History Review 22 (3): 259–289. doi:10.1017/S0968565015000177.
  • Rogoff, K. 1985. “The Optimal Degree of Commitment to an Intermediate Monetary Target.” Quarterly Journal of Economics 100 (4): 1169–1189. doi:10.2307/1885679.

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.