The Public Finance Review (PFR) analyzes Lebanon's public finances over a long horizon, to understand the roots of the fiscal profligacy and its eventual insolvency. To do so, the PFR links three critical elements in three Sections. Section I: Fiscal Policy in the Second Republic; Section II:...

Purpose: This study describes a unique monetary reaction rule adopted by the Lebanese Central Bank. Unlike international standards in most countries, the Lebanese monetary rule maintains the supply and demand of money in equilibrium and neutralises money shocks. The paper determines whether...