Theories of rules and discretion have become a corner stone in the formulation of macroeconomic policy. They suggest … that monetary policy rules are first best in terms of social welfare. However, if commitment is not feasible, delegating … one hundred years provides an excellent case to assess the empirical evidence on the use of rules and central bank …

Theories of rules and discretion have become a corner stone in the formulation of macroeconomic policy. They suggest … that monetary policy rules are first best in terms of social welfare. However, if commitment is not feasible, delegating … one hundred years provides an excellent case to assess the empirical evidence on the use of rules and central bank …

are the approach to the rules in macroeconomic policy, fiscal consolidation, and interpretation of current account surplus …

approach to the rules in macroeconomic policy, fiscal consolidation, and interpretation of current account surplus. Given the …

Theories of rules and discretion have become a corner stone in the formulation of macroeconomic policy. They suggest … that monetary policy rules are first best in terms of social welfare. However, if commitment is not feasible, delegating … one hundred years provides an excellent case to assess the empirical evidence on the use of rules and central bank …

discusses whether changes in regulation, administration, and liability standards have improved the effectiveness and the …