When does delegation improve credibility? Central Bank independence and the separation of powers

Rules Rather than Discretion: The Inconsistency of Optimal Plans

1977 • 7,667 citations

The Optimal Degree of Commitment to an Intermediate Monetary Target

1985 • 3,677 citations

On the Measurement of Polarization

1994 • 1,717 citations

Measuring the Independence of Central Banks and Its Effect on Policy Outcomes

1992 • 1,692 citations

Political and Monetary Institutions and Public Financial Policies in the Industrial Countries

1991 • 1,589 citations

Central Bank Strategy, Credibility, and Independence: Theory and Evidence

1992 • 1,454 citations

Macroeconomic Policy in a Two-Party System as a Repeated Game

1987 • 1,344 citations

Why a Stubborn Conservative would Run a Deficit: Policy with Time- Inconsistent Preferences

1989 • 1,226 citations

Optimal contracts for central bankers

1995 • 1,191 citations

State Responses to Fiscal Crises: The Effects of Budgetary Institutions and Politics

1994 • 1,096 citations

Seigniorage and Political Instability

1992 • 595 citations

Designing institutions for monetary stability

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Budget institutions and fiscal performance in Latin America

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Balanced-budget rules and public deficits: evidence from the U.S. states

1996 • 450 citations

Declarations Are Not Enough: Financial Sector Sources of Central Bank Independence

1995 • 311 citations

Political Influence on the Central Bank: International Evidence

1995 • 309 citations

A Political Explanation of Variations in Central Bank Independence

1998 • 254 citations

Gatekeepers of Growth: The International Political Economy of Central Banking in Developing Countries

1998 • 220 citations

Federalism and Central bank Independence: The Politics of German Monetary Policy, 1957–92

1998 • 191 citations

Independent Central Banks: Low Inflation at No Costs?

1995 • 187 citations

Checks and balances, and the supply of central bank independence

1999 • 184 citations

Electoral Institutions, Cabinet Negotiations, and Budget Deficits in the European Union

1997 • 130 citations

Gatekeepers of Growth

1998 • 128 citations