DOES CENTRAL BANK INDEPENDENCE SMOOTH THE POLITICAL BUSINESS-CYCLE ININFLATION - SOME OECD EVIDENCE

Authors
HADRI K LOCKWOOD B MALONEY J
Citation
K. Hadri et al., DOES CENTRAL BANK INDEPENDENCE SMOOTH THE POLITICAL BUSINESS-CYCLE ININFLATION - SOME OECD EVIDENCE, Manchester School of Economic and Social Studies, 66(4), 1998, pp. 377-395
Citations number
14
Categorie Soggetti
Economics
Journal title
Manchester School of Economic and Social Studies → ACNP
ISSN journal
14636786
Volume
66
Issue
4
Year of publication
1998
Pages
377 - 395
Database
ISI
SICI code
1463-6786(1998)66:4<377:DCBIST>2.0.ZU;2-D
Abstract
In this paper, electoral and partisan effects in inflation are identif ied for 18 OECD countries via regression analysis, building on the wor k of Alesina, Cohen and Roubini. The correlation of the size of these effects across countries with the level of central bank independence i s investigated; the results suggest a negative correlation.