A tese da independência do Banco Central e a estabilidade de preços: uma aplicação do método-Cukierman à história do FED

Abstract

This paper discusses the thesis that proposes the independence for central banks (ICB). With this aim, it applies Alex Cukierman's method to measure the autonomy degree of Federal Reserve System in some important events from American monetary history. It verifies if the autonomy degree of the U.S. monetary authorities is correlated to the inflation rate of each event. After this, the article debates on validity of ICB thesis.