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dc.contributor.authorKotlán, Viktor
dc.contributor.authorFrait, Jan
dc.identifier.citationFinance a úvěr. 1999, roč. 49, č. 10, s. 565-586.en
dc.publisherUniverzita Karlova. Fakulta sociálních věden
dc.relation.ispartofseriesFinance a úvěren
dc.subjectnezávislost centrální bankyen
dc.subjectekonomický růsten
dc.subjectcentral bank independenceen
dc.subjecteconomic growthen
dc.titleEmpirie vztahu mezi mírou nezávislosti centrální banky a výsledky její politikyen
dc.title.alternativeExamining the relation between the degree of central bank independence and its policy outcomes
dc.identifier.locationVe fondu ÚKen
dc.description.abstract-enThe authors survey the literature dealing with policy consequences of central bank independence (CBI); they outline the methodology of CBI measurement and discuss some related problems, then analyze the relation between the degree of CBI, inflation and economic growth. They also discuss some recent findings on the determinants of CBI and on the optimal rate of inflation. Most of the empirical studies on the subject show that countries with a higher degree of CBI experience lower inflation. While the evidence shows that the degree of CBI seems to have no effect on economic growth, it is believed that to a certain degree a more independent central bank raises the costs of disinflation by altering the slope and the position of the Phillips curve.en

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