Post Keynesian theory as opposed to Walrasian theory does not provide the foundations for a unique general equilibrium … participation theory of economic policy based on market constellations may help to bridge the gap between nomocratic policy denial …

increase in conservatism triggers two opposite effects. It reduces the inflation bias of discretionary monetary policy and …

According to the game-theoretic model of monetary policy, inflation is the consequence of time-inconsistent behavior of … the monetary authority. The inflation bias can be eased by handing over the responsibility for monetary policy to an …

number of central banks in light of their complex role of inflation guardians, bankers' banks, financial industry regulators …

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 …

to the share of the term in office elapsed, political and regime instability, the occurrence of elections, and inflation … independence. This is confirmed in models for cross-section inflation in which TOR becomes insignificant once its endogeneity is …

This paper aims to contribute to a better understanding on how inflation targets are set. For this reason, we first … inflation targets are set; we then estimate the determinants of the level of inflation target in 19 inflation targeting … than as a point). Inflation targets are found to reflect macroeconomic fundamentals. Higher level as well as higher …