Although the world of banking and finance is becoming more integrated every day, in most aspects the world of financial regulation continues to be narrowly defined by national boundaries. The main players here are still national governments and governmental agencies. And until recently, they...

The Swedish Fiscal Policy Council (FPC) set up in 2007 is one example of the recent international trend to create independent fiscal watchdogs. The FPC has established itself as an important participant in the Swedish economic policy discussion. The FPC has small resources and a broad remit...

Wirtschaftspolitische Entscheidungen sollten durch eine sorgfältige Beratung begleitet werden. Welche Vorteile weist die wissenschaftsbasierte Politikberatung gegenüber auf kurzfristige Handlungskompetenz ausgerichtetem Consulting auf? Welche Erwartungen richten die Medien an die Berater? Was...

When policymakers and private agents use models, the economists who design the model have an incentive to alter it in order to influence outcomes in a fashion consistent with their own preferences. I discuss some consequences of the existence of such ideological bias. In particular, I analyze...