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Sunday, November 20, 2005

Central Bank Independence and Inflation

From "Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence," by Alberto Alesina and Lawrence H. Summers, Journal of Money, Credit and Banking, Vol. 25, No. 2. (May, 1993), pp. 151-162:

This has changed with the adoption of inflation targeting by central banks. Note also that Adam Posen casts doubt on whether causality runs from central bank independence to improved macroeconomic performance in Central Bank Independence and Disinflationary Credibility: A Missing Link?, NY Fed Staff Report, May 1995.

    Posted by on Sunday, November 20, 2005 at 12:05 AM in Academic Papers, Economics, Inflation, Monetary Policy, Politics | Permalink  TrackBack (1)  Comments (12)


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