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macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. The … exogenous variables are the degree of legal commitment and the constraining influence of institutions. The paper allows for the … conclusion that monetary commitment, the consideration of institutional constraints and abstinence from the money press are …
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crucial for the success of a monetary reform. -- Monetary Reforms ; Credibility ; Commitment ; Institutions … macroeconomic model of commitment and credibility. As the dependent variable, we calculate a post-reform inflation rate. The … exogenous variables are the degree of legal commitment and the constraining influence of institutions. The paper allows for the …
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This paper theoretically and empirically investigates the effect of natural resource rents on the process of economic liberalization and a potential moderating effect of the level of democracy. A simple political-economic model is developed in which the government in an autocratic country faces...
Persistent link: https://www.econbiz.de/10012543604