A Central Bank Theory of Price Level Determination
نویسندگان
چکیده
منابع مشابه
Central Bank Independence:The Key to Price Stability?
ISSN 0428-1276 Low inflation over long periods is the sign of an effective central bank. The authors suggest that a large fraction of the worldwide decline in inflation since the early 1980s results from an international movement toward more independent central banks. Industrialized nations have achieved a remarkable decline in inflation: Their average annual rate tumbled from 5.6% in the 1955–...
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ژورنال
عنوان ژورنال: American Economic Journal: Macroeconomics
سال: 2020
ISSN: 1945-7707,1945-7715
DOI: 10.1257/mac.20190008