Estimating the effect of central bank independence on inflation using longitudinal targeted maximum likelihood estimation

@article{Baumann2020EstimatingTE,
  title={Estimating the effect of central bank independence on inflation using longitudinal targeted maximum likelihood estimation},
  author={Philipp Baumann and Michael Schomaker and Enzo Rossi},
  journal={Journal of Causal Inference},
  year={2020},
  volume={9},
  pages={109 - 146}
}
Abstract The notion that an independent central bank reduces a country’s inflation is a controversial hypothesis. To date, it has not been possible to satisfactorily answer this question because the complex macroeconomic structure that gives rise to the data has not been adequately incorporated into statistical analyses. We develop a causal model that summarizes the economic process of inflation. Based on this causal model and recent data, we discuss and identify the assumptions under which the… Expand
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