This paper considers forecast averaging when the same model is used but estimation is carried out over different … estimation windows. It develops theoretical results for random walks when their drift and/or volatility are subject to one or … more structural breaks. It is shown that compared to using forecasts based on a single estimation window, averaging over …

inflation targeter early in this period but began to pay less attention to inflation after 2009. Loss of the strong nominal …

independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country’s inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

restrictions which are not rejected by the data - the cost channel helps to generate an initial rise of inflation after a monetary …

inequality on economic freedom is robust to different sets of controls and estimation techniques. Finally, we show that the … democracy, where a powerful economic elite cooperates with politicians and bureaucrats for their mutual benefit …