This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

We analyse whether central bank independence (CBI) affects inflation in developing countries. For this purpose we have constructed a new data set for the turnover rate (TOR) of central bank governors for a very large sample of countries, which also covers the 1990s. We find that once various...

We test a simple model of exchange rate regime choice with data for 65 non-OECD countries covering the period 1980-94.We find that the variance of output at home and in potential target c ountries as well as the correlation between home and foreign real activity are powerful and robust...

This paper introduces new data on the term in office of central bank governors in 137 countries for 1970-2004. Our panel models show that the probability that a central bank governor is replaced in a particular year is positively related to the share of the term in office elapsed, political and...

This paper uses a new data set on the term in office of central bank governors in 137 countries covering the period 1970-2004 to estimate a model for the chance that a central bank governor is replaced. We formulate a number of hypotheses based on the literature on the determinants of central...

This paper reviews arguments for central bank independence and presents new evidence on the impact of central bank (in)dependence on the level and variability of inflation, money growth, the level and financing of government budget deficits and economic growth, using three different measures of...

This paper analyses the reforms in the architecture of EMU since the eruption of the euro crisis in 2010. We describe major weaknesses in the original set-up of EMU, such as lack of fiscal discipline, diverging financial cycles and competitiveness positions, and a lack of crisis instruments....

This paper reviews arguments for central bank independence and presents new evidence on the impact of central bank (in)dependence on the level and variability of inflation, money growth, the level and financing of government budget deficits and economic growth, using three different measures of...

We use rolling cointegration tests to investigate the relationship between the Renminbi daily future spot return and the forward discount rate for the period after the currency regime reform in China in July 2005. We find that there are different regimes after this reform and that the financial...

We examine whether bank earnings volatility depends on bank size and the degree of concentration in the banking sector. Using quarterly data for non-investment banks in the United States for the period 2004Q1–2009Q4 and controlling for the quality of management, leverage, and diversification,...