2024 : 6 : 16
Kaveh Derakhshani Darabi

Kaveh Derakhshani Darabi

Academic rank: Assistant Professor
ORCID: https://orcid.org/0000-0002-7069-762X
Education: PhD.
Faculty: Economic and Administrative Sciences
Address: Arak University
Phone: 08632629340


sensitivity analysis
Central Bank Independence, Sensitivity Analysis, ARDL,
Journal journal of money and economy
Researchers Ahmad Jafari Samimi ، Kaveh Derakhshani Darabi ، Amir Mansour Tehranchian ، Mohamad Ali Ehsani


The purpose of this study is finding the sensitivity of central bank independence measurements on its impact on inflation in Iran. To this aim different measurements of the central bank independence were calculated using the indices of Grilli et al. (1991), Cukierman et al. (1992), Mathew (2006) and Dumiter (2009) for the period 1961-2012 . Although results of correlation between CBI index and inflation shows that there is a negative correlation between all CBI index and inflation, but the estimated results using the Autoregressive Distributed Lag (ARDL) show except for the index of Grilli et al. (1991) other indices have similar short run and long run significant negative effect on the inflation in Iran. So the CBI have the sensitivity to definition. Also, results of estimation shows that there isn’t any significant differences between the impact of Cukierman et al. (1992), Mathew (2006) and Dumiter (2009) index on the inflation. So this indices can be used interchangeably.