Alpanda, Sami; Honig, Adam - In: Journal of International Money and Finance 44 (2014) C, pp. 118-135
studies. However, when we differentiate the impact of inflation targeting based on the degree of central bank independence, we … find large effects in emerging economies with low central bank independence. Our results therefore suggest that central … inflation more in countries with low central bank independence is the reduction of budget deficits following the adoption of an …