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

Modern mainstream economics is attracting an increasing number of critics of its high
degree of abstraction and lack of relevance to economic reality. Economists are calling for a …

We argue that the question of whether and when policy reform works should be investigated
together with the political economy factors responsible for distortionary policies in the first …

What explains the worldwide changes in central bank design over the past five decades?
Using a new dataset on central bank institutional design, this paper investigates the timing …

This article analyses the new challenges the ECB faces in implementing its monetary policy
and asks to what extent judicial review can help address these. The ECB mandate provides …

Greece’s New Political Economy Page 1 Greece’s New Political Economy State, Finance, and
Growth from Postwar to EMU George Pagoulatos Page 2 Greece’s New Political Economy …

In this paper we critically review the literature on the political economy of monetary policy,
with an eye on the questions raised by the recent financial crisis. We begin with a discussion …

 aims and theoretical context into a more inflation-prone and inflation-sensitive society.
More recently, asset price inflation in the housing and property sectors has loomed as a …

In this paper, we survey the case for central bank independence (CBI). We conclude that CBI
is neither necessary nor sufficient for monetary stability. CBI is just one potentially useful …

Since the early 1990s, culture, in the sense of norms and values, has entered economic
analysis again, whereas it was totally absent from mainstream economics during most of the …