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Why Is Central Bank Independence So Widely Approved?

Abstract:

In terms of achieving broad professional support and giving economic analysis a clear influence on policy making, the doctrine that central bank independence improves economic performance has been a resounding success. On the other hand, the scientific literature also contains a number of unanswered criticisms of the idea and it is suggested that this makes the breadth of support for independence and the depth of feeling it evokes facts in need of explanation. It is further suggested that alt...

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James Forder More by this author
Journal:
Journal of Economic Issues
Volume:
39
Issue:
4
Publication date:
2005
URN:
uuid:977a257d-aae1-4fa3-a561-b2bcce6d0cb8
Local pid:
oai:economics.ouls.ox.ac.uk:12711
Language:
English

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