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Central Bank Independence: Reassessing the Measurements.

Abstract:

Attempts to test the hypothesis that central bank independence lowers inflation have not produced a way of assessing measures of independence. In practice a measure is often treated as good if and only if it confirms the hypothesis. The most well known measures are much less similar than is often supposed, further suggesting that there is no agreed, empirical and measurable content to the notion of independence. One is forced to the conclusion that attempts to test the independence hypothesis...

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Journal:
Journal of Economic Issues More from this journal
Volume:
33
Publication date:
1999-01-01
ISSN:
0021-3624
Language:
English
UUID:
uuid:24b541c8-e53a-4615-8354-79b58dbcd0c6
Local pid:
oai:economics.ouls.ox.ac.uk:12710
Deposit date:
2011-08-15

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