Hayo, Bernd; Voigt, Stefan - In: Journal of Institutional and Theoretical Economics (JITE) 164 (2008) 4, pp. 751-777
We argue that a higher degree of de facto independence of the legal system from other government branches as well as strong public trust in the working of the legal system may reduce the average inflation rate of countries through two channels: by lowering transaction costs in the economy and by...