|
|
|
|
||||
|
||||
Political Pressure on the X: An Empirical Investigation Using the Havrilesky ApproachPhilipp MaierEconomie Jan-Egbert SturmKOF Swiss Economic Institute; CESifo (Center for Economic Studies and Ifo Institute for Economic Research); CESifo (Center for Economic Studies and Ifo Institute for Economic Research) - Ifo Institute for Economic Research Jakob De HaanUniversity of Groningen - Faculty of Economics and Business; De Nederlandsche Bank; CESifo (Center for Economic Studies and Ifo Institute for Economic Research) Journal of Macroeconomics, Vol. 24, No. 1, Winter 2002 Abstract: This paper applies the method as developed by Havrilesky to examine whether a central bank responds to political pressure to the Bundesbank, which is widely believed to be one of the most independent central banks in the world. We construct an index for political pressure by counting the number of articles in three newspapers in which politicians or pressure groups argue in favor of a more or less restrictive monetary policy. We conclude that the Bundesbank did not respond to political pressure. However, its policies were in line with the wishes of the banking sector.
Keywords: Bundesbank, monetary policy, political pressure JEL Classification: E58, E52 Accepted Paper SeriesDate posted: May 2, 2001Suggested CitationContact Information
|
|
||||||||||||||||||||||||||||
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
FAQ
Terms of Use
Privacy Policy
Copyright
This page was processed by apollo7 in 0.547 seconds
