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  1. Does government ideology matter in monetary policy?
    a panel data analysis for OECD countries
    Autor*in: Belke, Ansgar; Potrafke, Niklas
    Erschienen: Mar. 2009
    Verlag:  RWI, Essen

    This paper examines the effect of government ideology on monetary policy in a quarterly data set of 15 OECD countries in the period 1980.1-2005.4. Our Taylor-rule specification focuses on the interactions of a new time-variant indicator for central... mehr

    Standort:
    Niedersächsische Staats- und Universitätsbibliothek Göttingen
    Fernleihe:
    keine Fernleihe

    Standort:
    Staats- und Universitätsbibliothek Hamburg Carl von Ossietzky
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 10 (94)
    Fernleihe:
    keine Fernleihe

    Standort:
    ifo Institut für Wirtschaftsforschung an der Universität München, Bibliothek
    Fernleihe:
    keine Fernleihe

     

    This paper examines the effect of government ideology on monetary policy in a quarterly data set of 15 OECD countries in the period 1980.1-2005.4. Our Taylor-rule specification focuses on the interactions of a new time-variant indicator for central bank independence and government ideology. The results suggest that leftist governments did not decrease short term nominal interest rates at all. In contrast, short term nominal interest rates were higher under leftist governments. A potential reason for this finding might be that leftist governments have sought to make a market-oriented policy shift by delegating monetary policy to conservative central bankers. -- Monetary policy ; Taylor rule ; government ideology ; partisan politics ; central bank independence ; panel data

     
    Export in Literaturverwaltung   RIS-Format
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    Hinweise zum Inhalt
    Volltext (kostenfrei)
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Ebook
    Format: Online
    ISBN: 9783867881050
    Weitere Identifier:
    hdl: 10419/29892
    Schriftenreihe: Ruhr economic papers ; 94
    Schlagworte: Geldpolitik; Taylor-Regel; Zentralbankunabhängigkeit; Ideologie; OECD-Staaten
    Umfang: Online-Ressource (72 S.), graph. Darst.
    Bemerkung(en):

    Parallel als Druckausg. erschienen
  2. Does government ideology matter in monetary policy?
    a panel data analysis for OECD countries
    Autor*in: Belke, Ansgar; Potrafke, Niklas
    Erschienen: 2011
    Verlag:  DIW, Berlin

    This paper examines whether government ideology has influenced monetary policy in OECD countries. We use quarterly data in the 1980.1-2005.4 period and exclude EMU countries. Our Taylor-rule specification focuses on the interactions of a new... mehr

    Standort:
    Leibniz-Institut für Wirtschaftsforschung Halle, Bibliothek
    Fernleihe:
    keine Fernleihe

    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    DS 14 (1180)
    Fernleihe:
    keine Fernleihe

     

    This paper examines whether government ideology has influenced monetary policy in OECD countries. We use quarterly data in the 1980.1-2005.4 period and exclude EMU countries. Our Taylor-rule specification focuses on the interactions of a new 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 more pronounced when exchange rates are flexible. Our findings are compatible with the view that leftist governments, in an attempt to deflect blame of their traditional constituencies, have pushed market-oriented policies by delegating monetary policy to conservative central bankers. -- Monetary policy ; Taylor rule ; government ideology ; partisan politics ; central bank independence ; panel data

     
    Export in Literaturverwaltung   RIS-Format
      BibTeX-Format
    Hinweise zum Inhalt
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/61407
    Schriftenreihe: Discussion papers / German Institute for Economic Research ; 1180
    Schlagworte: Geldpolitik; Taylor-Regel; Zentralbankunabhängigkeit; Ideologie; OECD-Staaten
    Umfang: Online-Ressource (PDF-Datei: 30 S., 355,45 KB), graph. Darst.