This chapter surveys the recent literature on the theory of macroeconomic policy. We study
the effect of various incentive constraints on the policy making process, such as lack of …

We assemble an almost complete set of central bank statutes since 1800 to assess the legal
independence of central banking institutions. We use these to extend existing indices of …

This paper reports updated measures of transparency and independence for more than 100
central banks. The indices show that there has been steady movement in the direction of …

Broadly viewing the global economy as a political competition that produces winners and
losers, International Political Economy holistically and accessibly introduces the field of IPE …

The new edition of a comprehensive treatment of monetary economics, including the first
extensive coverage of the effective lower bound on nominal interest rates. This textbook …

This book examines the whys, whens, hows, whos, and what-ifs of the pro cess of making
the Eu ro pe an monetary union. Why was this innovative, daring, and risk-filled experiment …

Snowdon and Vane s book is extremely welcome. Indeed the authors examine, compare,
and evaluate the evolution of the major rival stories comprising contemporary …

Our paper assesses progress made by the profession in understanding whether and how
exchange rate intervention works. We review theory and evidence on official intervention …

In recent years, academics and policymakers have shown increasing interest in the
independence of central banks with respect to the formulation of monetary policy. In the …

Abstract" Financialization" refers to the increasing importance of financial markets, financial
motives, financial institutions, and financial elites in the operations of the economy and its …