Campoy-Miñarro, Juan C.; Negrete, Juan Carlos - In: Economics / Journal articles : the open-access, … 16 (2022) 1, pp. 123-136
Central bank independence has been championed on the grounds that it avoids political business cycles, the time … political interference. This new reality has put into question the long-lasting consensus on the desirability of central bank … independence. We add to this debate a new argument in support of that independence, namely, it internalizes the fiscal spillovers …