Economics, Econometrics and Finance
8 years ago

Monetary commitment key to stable prices in OECD countries since 1970s

SSRN Electronic Journal
Monetary Commitment, Institutional Constraints and Inflation: Empirical Evidence for OECD Countries Since the 1970s
Andreas Freytag, Friedrich Schneider

Paper Summary

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Central bank independence is crucial for keeping prices stable. This study looked at how well monetary commitment, which includes factors like central bank independence and exchange rate regimes, can help maintain price stability. The researchers found that having strong monetary commitment is key to keeping prices stable over time.