plays no role. Trust does play a role but requires a bound on effciency. Stationary inflation must be non-negative and …We study the interplay between competition and trust as efficiency-enhancing mechanims in the private provision of … money. With commitment, trust is automatically achieved and competition ensures efficiency. Without commitment, competition …

credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social … trust and central-bank independence. Our empirical findings, based on data from 149 countries, confirm that there is such a … of reform and the ability with which it can be implemented. At low trust levels, the need for central-bank independence …

credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social … trust and central-bank independence. Our empirical findings, based on data from 149 countries, confirm such a link, in the … and the ability with which it can be implemented. At low trust, the need for central-bank independence is sufficiently …

credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social … trust and central-bank independence. Our empirical findings, based on data from 149 countries, confirm that there is such a … of reform and the ability with which it can be implemented. At low trust levels, the need for central-bank independence …

driven by trust. With flexible prices, we observe low prices and high quality in competitive (oligopolistic) markets, and …