央行透明度对通胀持续性的影响

IF 0.9 Q3 ECONOMICS

Economics and Business Letters Pub Date : 2021-02-21 DOI:10.17811/EBL.10.1.2021.58-68

Georgios Oikonomou, Stephanos Papadamou, Eleftherios Spyromitros

{"title":"央行透明度对通胀持续性的影响","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":null,"pages":null},"PeriodicalIF":0.9000,"publicationDate":"2021-02-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"3","resultStr":"{\"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\":null,\"pages\":null},\"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}","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

摘要

在本文中，我们使用面板数据分析来检验中央银行透明度对通货膨胀持续性的影响。现有文献表明，中央银行透明度对宏观经济变量(如通货膨胀)有显著影响，但对其对通货膨胀持续性的影响却没有太多研究。我们使用14个国家和欧元区(ECB)的年度数据。我们发现，货币政策透明度在控制GDP增长、利率、经济开放度和单位劳动力成本等重要变量的同时，在统计上对通胀持续性有显著的负影响。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

查看原文本刊更多论文

The effect of central bank transparency on inflation persistence

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.

求助全文

通过发布文献求助，成功后即可免费获取论文全文。去求助

来源期刊

Economics and Business Letters ECONOMICS-

CiteScore

1.80

自引率

11.10%

发文量

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.