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Does Central Bank Independence Affect Inflation?

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Analysis shows central bank independence negatively affects inflation in Western Balkan nations, suggesting policy implications.

Central bank independence significantly reduces inflation in Western Balkan countries studied.
Results demonstrate a clear negative correlation between central bank independence and inflation levels from 2010 to 2022.
The panel Autoregressive Distributed Lags model was applied to analyze the effects across six countries.
Findings highlight the importance of using monetary tools to regulate inflation effectively.

Vera Gojčaj (2025) studied this question.

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