Central bank independence and inflation performance: panacea or placebo?
Article Abstract:
The degree of central bank independence is said to determine cross-country inflation differences. However, several factors have been raised that cast doubts on such a relationship. First, the link between independence and inflation may not be as tight as previously declared. Also, predictive validity tests show that the link does not score favorably. Relevant variables also appear to have been omitted in using central bank independence as the determinant of cross-country inflation differences. The structure of the labor market, the regulatory burden of the central bank and the exchange rate regime were found to be significant determinants as well.
Publication Name: Banca Nazionale Del Lavoro Quarterly Review
Subject: Business
ISSN: 0005-4607
Year: 1996
User Contributions:
Comment about this article or add new information about this topic:
Structural biases in prudential regulation of banks
Article Abstract:
This paper analyses and distinguishes between banking regulations in Europe under the Basle Accord and the United States under the deposit insurance scheme backed by the U.S. Treasury.
Publication Name: Banca Nazionale Del Lavoro Quarterly Review
Subject: Business
ISSN: 0005-4607
Year: 2001
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Does reject inference really improve the performance of application scoring models?. Immunization derived from polynomial duration vector in the Spanish bond market
- Abstracts: The Assessment of Company Solvency and Performance using a Statistical Model. LDC credit-risk forecasting and banker judgement
- Abstracts: Banks as information specialists: the case of hospital lending. Financial Innovation, Multinational Banking, and Monetary Policy
- Abstracts: What central banks have learned: lesson from pre-EMU Europe. Exchange-rate policy in eatern Europe and EU integration