On the relationship between central bank independence and inflation: some more bad news

Using the quantile regression approach it is shown for a sample of 57 developing countries that the relationship between central bank independence and inflation over the period 1975--98 is not robust. Only in the higher quantiles do we find a significant relationship between independence and inflation. This conclusion is based on a multivariate model for inflation, in which central bank independence is proxied by the central bank turnover rate.

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Year of publication:	2005
Authors:	Bouwman, Kees ; Jong-A-Pin, Richard ; Haan, Jakob de
Published in:	Applied Financial Economics Letters. - Taylor and Francis Journals, ISSN 1744-6546. - Vol. 1.2005, 6, p. 381-385
Publisher:	Taylor and Francis Journals

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005495883