Central Bank independence and financing government spending
Journal of Macroeconomics
Berument, H. (1999). Central bank independence and financing government spending. Journal of Macroeconomics, 20(1), 133-151.
Please cite this item using this persistent URLhttp://hdl.handle.net/11693/10890
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.
- Department of Economics