We examine a central bank's endogenous choice of degree of control and degree of transparency, under both commitment and discretion. We argue that discretion is the more realistic assumption for the choice of control and that commitment is more realistic for the choice of transparency.

Many technologies used by the LDCs (less developed countries) are developed in the OECD economies, and as such, are designed to make optimal use of the skills of these richer countries' workforces. Due to differences in the supply of skills, some of the tasks performed by skilled workers in the...

Intelligent agents may contribute to higher technological growth, if assigned appropriate positions in the economy. These positive effects on growth are unlikely to be internalized on a competitive labor market. The allocation of talent depends on the relative award the market assigns to...