Monetary institutions and inflation performance: cross-country evidence

dc.citation.epage354en_US
dc.citation.issueNumber4en_US
dc.citation.spage339en_US
dc.citation.volumeNumber15en_US
dc.contributor.authorNeyapti, B.en_US
dc.date.accessioned2016-02-08T09:43:32Z
dc.date.available2016-02-08T09:43:32Z
dc.date.issued2012en_US
dc.departmentDepartment of Economicsen_US
dc.description.abstractThis paper presents an empirical investigation of the effectiveness of the institutional frameworks of monetary policy in achieving and maintaining price stability. The institutional frameworks considered are central bank independence (CBI), inflation targeting (IT), currency boards (CB) and monetary unions (MU). Against the vast literature that argues for the price stabilizing effects of each of these institutions, the empirical evidence presented here suggests that countries that have adopted the IT and CB regimes have, on average, been associated with lower inflation rates than others during the past decade. This finding is robust to various control variables, while governance appears to be a substitute to formal mechanisms. © 2012 Copyright Taylor and Francis Group, LLC.en_US
dc.identifier.doi10.1080/17487870.2012.731805en_US
dc.identifier.eissn1748-7889
dc.identifier.issn1748-7870
dc.identifier.urihttp://hdl.handle.net/11693/21238
dc.language.isoEnglishen_US
dc.publisherRoutledgeen_US
dc.relation.isversionofhttp://dx.doi.org/10.1080/17487870.2012.731805en_US
dc.source.titleJournal of Economic Policy Reformen_US
dc.subjectInflationen_US
dc.subjectMonetary institutionsen_US
dc.titleMonetary institutions and inflation performance: cross-country evidenceen_US
dc.typeArticleen_US
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