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Central-Bank-Independence
Central-Bank-Independence
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Journal of Money, Credit and Banking
24 Oct 2024
Central Bank Independence at Low Interest RatesBENJAMÍN GARCÍA · ARSENIOS SKAPERDAS
This paper constructs a new measure of political pressure on the Federal Reserve from textual analysis of Fed Chairs’ testimonies at Humphrey-Hawkins congressional hearings, and documents that …
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Review of Economic Studies
20 Apr 2026
Political Pressure on the FedThomas Drechsel
This paper combines a hand-collected archival data set of over 800 personal interactions between U.S. Presidents and Federal Reserve officials from 1933 to 2016 with a narrative structural VAR to …