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Central bank independence: the key to price stability?

Author

Listed:
  • Charles T. Carlstrom
  • Timothy S. Fuerst

Abstract

Low inflation over long periods is the sign of an effective central bank. The authors suggest that a large fraction of the worldwide decline in inflation since the early 1980s results from an international movement toward more independent central banks.

Suggested Citation

  • Charles T. Carlstrom & Timothy S. Fuerst, 2006. "Central bank independence: the key to price stability?," Economic Commentary, Federal Reserve Bank of Cleveland, issue Sep.
    • Handle: RePEc:fip:fedcec:y:2006:i:sep1
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    Cited by:

    1. Ftiti, Zied & Aguir, Abdelkader & Smida, Mounir, 2017. "Time-inconsistency and expansionary business cycle theories: What does matter for the central bank independence–inflation relationship?," Economic Modelling, Elsevier, vol. 67(C), pages 215-227.

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