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Federal Reserve Bank of Cleveland
Economic Commentary
Central bank independence: the key to price stability?
Charles T. Carlstrom
Timothy S. Fuerst
Abstract

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.


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Charles T. Carlstrom & Timothy S. Fuerst, "Central bank independence: the key to price stability?" , Federal Reserve Bank of Cleveland, Economic Commentary, issue Sep, 2006.
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Keywords: Banks and banking; Central ; Inflation (Finance)
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