Testing for central bank independence and inflation using the wild bootstrap

Peel, D and Monticini, A (2009) Testing for central bank independence and inflation using the wild bootstrap. Economics Bulletin, 29 (3). pp. 1602-1607. ISSN 1545-2921

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Abstract

This paper reviews the relationship between Central Bank Independence (CBI) and Inflation both in high income economies (as proposed in Campillo and Miron 1997 and Temple 1998) and in developing countries (as proposed in Brumm 2006)1 when a variety of Heteroskedasticity Consistent Covariance Matrix Estimators as well as the wild bootstrap are employed.