Belke, Ansgar; Potrafke, Niklas - In: Journal of International Money and Finance 31 (2012) 5, pp. 1126-1139
time-variant index of central bank independence with government ideology. The results show that leftist governments have … somewhat lower short-term nominal interest rates than rightwing governments when central bank independence is low. In contrast …, short-term nominal interest rates are higher under leftist governments when central bank independence is high. The effect is …