Given today's heightened competition between national economies in the global
marketplace, many have come to believe that government intervention is needed in order for …

This paper investigates the relationship between government budget deficits and money
growth in the developing countries for which reliabile data exist. It is sometimes suggested …

This paper investigates the effects of budget deficits on money growth, inflation, investment
and real output growth using annual data from a sample of 32 countries. The findings can be …

In the face of the perceived high public and private debt levels and sluggish recovery that
has followed the financial crisis of 2007-08, there have been calls for greater fiscal-monetary …

Using various indicators for central bank independence we examine the relationship
between central bank independence and government budget deficits. Using a two-stage …

This paper examines central bank independence with reference to the constraints on central
bank credit to the government, focusing on how such credit should be regulated. It discusses …

This paper seeks to quantify the effect independent central banks may have not only on the
rate of inflation but also on the behavior of the fiscal authority [6]. The empirical analysis …

Macroeconomic theory assumes that budget deficits are inflationary. Therefore, policy
makers and economists have long worried about the relationship between government …

This study examines the implications of central bank independence using a three-equation
model of monetary base growth, budget deficits and inflation that is estimated over an eight …

The use of continuous time macroeconometric models (ie models specified as systems of
stochastic differential equations and estimated in continuous time) has important …