Monetary policy rules have been considered as fundamental protection against inflation. However, empirical evidence for a correlation between rules and inflation is relatively weak. In this paper, we first discuss likely causes for this weak link and present the argument that monetary commitment...

We use real-time annual data on the fiscal balance, government current spending, current revenues and net capital outlays as published at a half yearly frequency in the OECD Economic Outlook for 25 OECD countries. For each fiscal year t we have a number of forecasts, a first release, and...

Zur intensiven Diskussion des Themas in der Öffentlichkeit hier ein umfassender Überblick. Dieser beinhaltet eine umfangreiche Dokumentation der Messmethoden und der Größe der Schattenwirtschaft in 70 Ländern weltweit. Die Analyse von wirtschaftspolitischen Optionen soll zur kontroversen...