Long-run data for the USA is used to examine whether the inflation adjustment of the government budget deficit as proposed by Eisner and Pieper makes a difference in assessing the impact of fiscal policy on economic growth. Using Vector Autoregressions (VAR) it is found that both the inflation...

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 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 reviews empirical research on the impact of government capital spending on economic growth. The pros and cons of five different ways to model the relationship between public investment and economic growth are reviewed, while some estimation results are presented for illustrative...

This paper explores the question whether and to what extent the economic relations between the Netherlands and its former colony Indonesia could be crucial to explaining `metropolitan' economic development and `peripheral' underdevelopment. It first surveys the literature on economic...