central banks' monetary policy must be credible if the authorities want to curb inflation. A second view is that central banks … set their monetary policy by using all the information relevant for inflation and output projections. In Europe, a … controversy has emerged about the role of monetary aggregates as useful indicators of future inflation and output. On one hand …

Over the last decade, a growing number of emerging countries has adopted inflation targeting as monetary policy … framework. In a recent paper, Freedman and Laxton (2009) ask the question “Why Inflation Targeting?”. This paper empirically …'s choice of adopting IT. Using panel data on a sample of thirty inflation targeting and non-inflation emerging countries, for …

of democracy in his country during his tenure. This e ffect is shown to be independent from the leader's education level …, as well as from his profession. Moreover, it is mainly driven by countries with a poor initial level of democracy. These …

Using a new set of micro evidence from an original survey of 28 transition countries, we show that democracy increases … reformist parties in the former socialist block lies in a deepening of democracy. …

66 developing countries over the period 1990-2005, this paper provides econometric evidence that democracy matters for … insufficiently welfare minded. We found that high levels of democracy are specifically needed in natural resource rich countries to …