Recommended readings (Machine generated): J.A. Mirrlees (1971), 'An Exploration in the Theory of Optimum Income Taxation', Review of Economic Studies, 38 (2), April, 175-208 -- Peter A. Diamond and James A. Mirrlees (1971a), 'Optimal Taxation and Public Production I: Production Efficiency',...

Financial globalization has made monetary policy formulation in emerging market economies increasingly complicated. This timely set of studies looks at the turmoil in global financial markets, which coupled with volatile inflation poses serious challenges for central banks in these countries....