Information exchange in policy networks is usually attributed to preference similarity, influence reputation, social trust and institutional actor roles. We suggest that political opportunity structures and transaction costs play another crucial role and estimate a rich statistical network model...

Information exchange in policy networks is usually attributed to preference similarity, influence reputation, social trust and institutional actor roles. We suggest that political opportunity structures and transaction costs play another crucial role and estimate a rich statistical network model...

This paper applies the method as developed by Havrilesky to examine whether a central bank responds to political pressure to the Bundesbank, which is widely believed to be one of the most independent central banks in the world. We construct an index for political pressure by counting the number...