Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence
利用16个OECD国家的数据，评估央行独立性与宏观经济表现的关系。发现政治控制的央行更易导致高通胀和通胀波动，但对增长、失业或实际利率无显著影响。
This note uses information on a sample of sixteen OECD countries to assess the relationship between central bank independence and macroeconomic performance. As previous work suggests, politically controlled central banks are more likely to pursue policies that lead to high and variable inflation. However, the authors find little evidence that political control of central bank policy has any impact on measures of the level or variability of growth, unemployment, or the ex ante real interest rate. Copyright 1993 by Ohio State University Press.