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Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence

Alberto Alesina; Lawrence H. Summers · Journal of Money, Credit and Banking 25(2), 151–162 · 1993

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Type
Article
Author
Alberto Alesina; Lawrence H. Summers
Identifier
DOI 10.2307/2077833
Accessed
2026-09-01

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DisputedIn a sample of sixteen OECD countries, Alesina and Summers found that greater central bank independence was associated with lower and less variable inflation but had little evident effect on growth, unemployment or real interest rates; whether independence causes these outcomes is disputed.