Central bank independence and the trade-off between inflation and output stabilization

Journal of Institutional and Theoretical Economics

Volumn 153, Issue 2, 1997, Pages 367-383

  Jordan, Thomas J ^a  

^a HARVARD UNIVERSITY   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 0031480436     PISSN: 09324569     EISSN: None     Source Type: Journal    
DOI: None     Document Type: Article

References (15)

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2. _ and L. H. SUMMERS [1993], "Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence," Journal of Money, Credit, and Banking, 25(2), 151-162.
3. BALL, L., N. G. MANKIW and D. ROMER [1988], "The New Keynesian Economics and the Output-Inflation Trade-off," Brookings Papers on Economic Activity, 0(1), 1-65.
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5. DEBELLE, G. and S. FISCHER [1994], "How Independent Should a Central Bank Be?" pp. 195-221 in: J. C. Fuhrer (ed.), Goals, Guidelines, and Constraints Facing Monetary Policymakers, Federal Reserve Bank of Boston: Boston.
6. EIJFFINGER, S. and E. SCHALING [1993], "Central Bank Independence: Theory and Evidence," Discussion Paper Center for Economic Research 9325, Tilburg University.
7. KYDLAND, F. E. and E. C. PRESCOTT [1977], "Rules Rather Than Discretion: The Inconsistency of Optimal Plans," Journal of Political Economy, 85(3), 473-491.
8. MCCALLUM, B. T. [1995], "Two Fallacies Concerning Central-Bank Independence," American Economic Review, 85(2), 207-211.
9. MILESI-FERRETTI, G. M. [1994], "Wage Indexation and Time Consistency," Journal of Money, Credit, and Banking, 26(4), 941-949.
10. PERSSON, T. and G. TABELLINI [1990], Macroeconomic Policy, Credibility and Politics, Haarwood Academic Publishers: Chur.
11. ROGOFF, K. [1985], "The Optimal Degree of Commitment to an Intermediate Monetary Target," Quarterly Journal of Economics, 100(4), 1169-1189.
12. VANHOOSE, D. D. and C. J. WALLER [1991], "Discretion, Wage Indexation, and Inflation," Southern Economic Journal, 58(2), 356-367.
13. WALLER, C. J. and D. D. VANHOOSE [1992], "Discretionary Monetary Policy and Socially Efficient Wage Indexation," Quarterly Journal of Economics, 107(4), 1451-1460.
14. WALSH, C. E. [1994a], "Central Bank Independence and the Short-Run Output-Inflation Trade-Off in the EC," Working Paper 1.35, Center for German and European Studies, University of California at Berkeley.
15. _ [1994b], "Is There a Cost to Having an Independent Central Bank?" Federal Reserve Bank of San Francisco Weekly Letter, 94-05, 1-3.