checks and balances' regulatory review process strengthens the role of the judicial power and election increases the populism … of implicitly motivated supervisors. Election arises when the risk related to expropriation of sunk investments and the … predictions. Indeed, when treated as endogenous, only the election of administrative law judges and not the one of regulators …

try to win the election with as little concessions as possible. The efficient amount of concessions and their distribution … efficient amount of concessions depends on the closeness of the election race. The closer the initial distribution of votes, the …

A key application of long memory time series models concerns inflation. Long memory implies that shocks have a long … such level shifts are not unlikely for inflation, where the shifts may be caused by sudden oil price shocks, we examine … exaggerated. Our main findings are that apparent longmemory is quite resistant to level shifts, although for a few inflation rates …

idiosyncratic components, we study the regime dependence of the inflation-RPV relation in Argentina and the USA. Under High …Using frequency domain techniques to separate short and long run dynamics and decomposing inflation into its common and … inflation, strong long-run comovement between RPV and Inflation is found for both economies, that extends to the short run …

between budget balance and inflation. The analysis focuses on European states in the period between 1999 and 2007, and … concludes that the relationship between budget balance and inflation is not demonstrable. In the literature, attempts to … quantify the relationship between the two factors have faced severe difficulties. Inflation influences both the revenue side …

Sticky-price models with rational expectations fail to capture the inertia in US inflation Models with backward …-looking expectations capture current inflation behavior but are unlikely to fit other monetary regimes This paper seeks to overcome these … problems with a near-rational model of expectations In the model agents make univariate forecasts of inflation: they use …