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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 …
Persistent link: https://www.econbiz.de/10010270683
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 …
Persistent link: https://www.econbiz.de/10001906719
Persistent link: https://www.econbiz.de/10012622767
Persistent link: https://www.econbiz.de/10012880057
Persistent link: https://www.econbiz.de/10012285783
We ask whether, as many seem to think, corruption worsens, and judicial accountability improves, inequality, and investigate this empirically using data from 145 countries 1960.2014. We relate perceived corruption and de facto judicial accountability to gross-income inequality and consumption...
Persistent link: https://www.econbiz.de/10012137555
natural resources rents may reduce incentives to invest in fiscal capacity. However, political institutions that limit rulers … mainly through institutions that make the tax system accountable and transparent. Thus it is possible to develop both fiscal …
Persistent link: https://www.econbiz.de/10012165580
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
Persistent link: https://www.econbiz.de/10014504858
This paper discusses reputational risk in the context of central banking and explains why it matters to central banks. It begins with a general discussion of reputational risk within the broader framework of risk management. It then outlines how central banks define, measure, monitor and manage...
Persistent link: https://www.econbiz.de/10011384150