Central Bank Transparency and Independence: Updates and New Measures

56 Pages Posted: 20 Mar 2015

See all articles by N. Nergiz Dincer

N. Nergiz Dincer

TED University; TED University Trade Research Center (TEDUTRC); Economic Research Forum

Barry Eichengreen

University of California, Berkeley; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR)

Date Written: September 4, 2013

Abstract

This paper reports updated measures of transparency and independence for more than 100 central banks. The indices show that there has been steady movement in the direction of greater transparency and independence over time. In addition, we show that outcomes such as the variability of inflation are significantly affected by both central bank transparency and independence. Disentangling the impact of the two dimensions of central bank arrangements remains difficult, however.

Keywords: Central Bank, Transparency, Independence

JEL Classification: E00, E04, F00

Suggested Citation

Dincer, Nazire Nergiz and Eichengreen, Barry, Central Bank Transparency and Independence: Updates and New Measures (September 4, 2013). WP 2013-21 , Available at SSRN: https://ssrn.com/abstract=2579544 or http://dx.doi.org/10.2139/ssrn.2579544

Nazire Nergiz Dincer (Contact Author)

TED University ( email )

Ziya Gokalp Bulvari No: 48
Kolej Çankaya, Ankara 06420
Turkey

TED University Trade Research Center (TEDUTRC) ( email )

Ziya Gokalp Bulvari No: 48
Kolej Çankaya, Ankara 06420
Turkey

Economic Research Forum ( email )

21 Al-Sad Al-Aaly St.
(P.O. Box: 12311)
Dokki, Cairo
Egypt

Barry Eichengreen

University of California, Berkeley ( email )

310 Barrows Hall
Berkeley, CA 94720
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Centre for Economic Policy Research (CEPR)

London
United Kingdom

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