The issue of central bank independence (CBI) and its relation to growth and inflation has been a subject of lively debate over the past two decades. Prior empirical work has suggested a relationship between CBI and inflation, with only a tenuous link to growth. In the wake of the global...

The notes in this compilation prepared by key monetary experts explore the different ways in which globalisation could have an impact on inflation and monetary policy transmission channels. The growing integration of production processes, commodity price shifts and the reduced ability of wage...