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Most of the literature on monetary policy delegation assumes that the government can credibly commit to the delegation contract, an assumption criticized by McCallum. This paper provides foundations for the assumption that renegotiating a delegation contract can be costly by illustrating how...
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Is "rule of law" anything more than a fictional allusion? After all, "law" is an abstract noun, and abstract nouns can't rule. Only people can rule. Rule of law is a fiction, one that has been around since ancient times. Whether, or under what circumstances, rule of law might be an ideal type...
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Review of Dimitrios Kyritsis's new book, 'Where Our Protection Lies: Separation of Powers and Constitutional Review' …
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because it is a breach of the constitution. After setting out Locke’s theory of separation of powers, the author presents a … the problem of discretionary executive power. Locke’s constitution divides political power between the executive and the … act for the public good. Locke closely links the public good and the constitution such that any breach of the constitution …
Persistent link: https://www.econbiz.de/10014176487
and institutionally, applying the constitutional doctrine of separation of powers to the macroeconomic constitution and … their institutional architectures.The paper's core focus lies in the distribution of macroeconomic powers, both functionally … macroeconomic policy mix.Rejecting the extremes of concentrating macroeconomic powers solely in the hands of a political majority or …
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