Central Bank independence and financing government spending
Please cite this item using this persistent URLhttp://hdl.handle.net/11693/10890
Journal of Macroeconomics
- Department of Economics 
This paper incorporates the effect of the central bank's independence into the government's optimum financing model. When the implications of the hypotheses are tested for eighteen OECD countries, this paper shows that countries with higher levels of central bank independence generate less seigniorage revenue.
Berument, H. (1999). Central bank independence and financing government spending. Journal of Macroeconomics, 20(1), 133-151.