This paper reviews recent research on central bank independence (CBI). After we have
distinguished between independence and conservativeness, research in which the …

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 …

The third edition of this popular, innovative and engaging textbook introduces students to the
various methods of modern social science, explaining how these have emerged, their …

This study introduces two novel metrics that calculate the degree of shock asymmetry which
can be utilized to examine whether countries in a currency area face symmetric shocks. In …

Creating the European monetary union between diverse and unequal nation states is
arguably one of the biggest social experiments in history. This book offers an explanation of …

What determines the size and form of redistributive programs, the extent and type of public
goods provision, the burden of taxation across alternative tax bases, the size of government …

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 …

The global financial crisis triggered severe shocks for developing countries, whose embrace
of greater commercial and financial openness has increased their exposure to external …

Fiscal policy in Latin America has been understudied, in part because of inadequate data.
This paper utilizes a new, comprehensive database on fiscal outcomes in 13 major Latin …

To investigate how a fixed exchange rate affects monetary policy, this paper classifies
countries as pegged or nonpegged and examines whether a pegged country must follow the …