Belke, Ansgar; Potrafke, Niklas - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
This paper examines whether government ideology has influenced monetary policy in OECD countries. We use quarterly data in the 1980.1-2005.4 period and exclude EMU countries. Our Taylor-rule specification focuses on the interactions of a new time-variant index of central bank independence with...