Analysis of Significance of Central Bank Independence

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25410%2F15%3A39900094" target="_blank" >RIV/00216275:25410/15:39900094 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Analysis of Significance of Central Bank Independence
Original language description
The aim of this paper is to evaluate the significance of central bank independence, based on the hypothesis that the rate of inflation decreases as the independence of the central bank increases. The paper is based on current scientific research in the field of measuring and evaluating central bank independence. Subsequently, the CBI index (Central Bank Independence Index) was designed. It is based on the most important criteria for central bank independence and the determination of their values. Then,using the proposed CBI index, the independence of selected central banks was measured. CBI values were compared with the average rate of inflation in those countries from 1999-2014. The calculated results do not prove the hypothesis; however, it can be concluded that central banks with a higher rate of independence tend to achieve an inflation target of around 2%, which is currently the target of most central banks in market economies. Our results do not correspond to the results of prev
Czech name
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Czech description
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Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2015
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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