The ultimate determinants of central bank independence



28

APPENDIX C. THE DATA

VPROD:

OECD Main Economic Indicators.

Growth rate of GDP in US$ in 1985 prices and exchange rates, 1960-1993.

NAIRU:

R. Layard, S. Nickell and R. Jackman,

Unemployment, Macroeconomic Performance and the Labour Market, Oxford:
Oxford University Press, 1991.

Estimates for NAIRU 1960-1988, Table 14, Chapter 9.

WLEFT:

Winkler Prins Encyclopedie, 1990.

A.J. Day (ed.), Political Parties of the World, Longman, 1988, (# years that a
left-wing party has been in the government, either alone or in a coalition)/(total
# years), 1960-1993.

SLOPE:

National Accounts of OECD Countries, 1960-1977, 1977-1989, 1978-1992. 1/[1
- (Compensation of employees paid by resident producers/GDP)], in current
prices.

OECD, Paris 1979, 1991, 1994.



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