{"title":"The effect of central bank transparency on inflation persistence","authors":"Georgios Oikonomou, Stephanos Papadamou, Eleftherios Spyromitros","doi":"10.17811/EBL.10.1.2021.58-68","DOIUrl":null,"url":null,"abstract":"In this paper, we examine the effect of central bank transparency on inflation persistence, using panel data analysis. The existing literature has shown a significant impact of central bank transparency on macroeconomic variables, such as inflation, but not many efforts have been made about its effect on inflation persistence. We use yearly data for 14 countries and the Eurozone (ECB). We find that monetary policy transparency has a negative statistically significant impact on inflation persistence, while controlling also for important variables such as GDP growth, interest rates, economic openness and unit labour cost.","PeriodicalId":43184,"journal":{"name":"Economics and Business Letters","volume":"10 1","pages":"58-68"},"PeriodicalIF":0.9000,"publicationDate":"2021-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economics and Business Letters","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.17811/EBL.10.1.2021.58-68","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 3
Abstract
In this paper, we examine the effect of central bank transparency on inflation persistence, using panel data analysis. The existing literature has shown a significant impact of central bank transparency on macroeconomic variables, such as inflation, but not many efforts have been made about its effect on inflation persistence. We use yearly data for 14 countries and the Eurozone (ECB). We find that monetary policy transparency has a negative statistically significant impact on inflation persistence, while controlling also for important variables such as GDP growth, interest rates, economic openness and unit labour cost.
期刊介绍：
Economics and Business Letters is an open access journal that publishes both theoretical and empirical quality original papers in all economics and business fields. In addition, relevant discussions on current policy issues will be considered for the Policy Watch section. As general strategy of EBL, the journal will launch calls for papers for special issues on topics of interest, generally with invited guest editors. The maximum length of the letters is limited to 2,500 words.
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