This paper builds on earlier studies of central bank independence (CBI), making a comparison of the rankings of central banks for 15 countries through three different indices. The analysis reveals that there is no shared concept of CBI and that the indices are a measure of the inflation bias....

The estimation of an ordered probit model for currency reforms trying to end 31 hyperinflations and three big inflations of the 20th century shows that the introduction of an independent central bank and the adoption of a credibly fixed exchange rate are crucial for the success of a currency...

The scientific reassessment of the economic role of the state after the crisis has renewed interest in Abba Lerner’s theory of functional finance (FF). A thorough discussion of this concept is helpful in reconsidering the debate on the nature of money and the origin of the business cycle and...