Journal Article

Central bank independence: the key to price stability?


Abstract: Low inflation over long periods is the sign of an effective central bank. The authors suggest that a large fraction of the worldwide decline in inflation since the early 1980s results from an international movement toward more independent central banks.

Keywords: Inflation (Finance); Banks and banking, Central;

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Bibliographic Information

Provider: Federal Reserve Bank of Cleveland

Part of Series: Economic Commentary

Publication Date: 2006

Issue: Sep

Order Number: 1