Now showing items 1-6 of 6
Financing divided governments
This paper finds that when the Congress and Presidency are controlled by the different political parties in the USA the creation of the seigniorage revenue to finance spending is not higher than when those two branches are ...
Potential information and target variables for UK monetary policy
The relationship between traditional monetary policy goal variables (nominal GDP, real GPD and the inflation rate) and a number of financial market variables is investigated. The question examined is which if any of these ...
Political business cycles and endogenous elections
(Wiley-Blackwell Publishing, Inc., 1998)
Empirical research of political business cycles (PBCs) may suffer from endogeneity bias when incumbent governments have discretion to call for an early election. Using an instrumental variable (IV) routine on data from ...
The impact of inflation uncertainty on interest rates in the UK
(Wiley-Blackwell Publishing Ltd., 1999)
This paper assesses the effect of expected inflation and inflation risk on interest rates within the Fisher hypothesis framework. Autoregressive Conditional Heteroscedastic models are used to estimate the conditional ...
Central Bank independence and financing government spending
(Elsevier BV, 1998)
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 ...
Financial crisis and changes in determinants of risk and return: an empirical investigation of an emerging market (ISE)
(Multinational Finance Society, 1999)
This paper examines how determinants of volatility and stock returns change with financial crisis. The contributions of the paper are twofold. First, using a GARCH-M framework, risk and return are jointly modeled by using ...