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Positive Political Economy : Theory and Evidence - Sylvester C. W. Eijffinger

Positive Political Economy

Theory and Evidence

Hardcover Published: 13th June 1998
ISBN: 9780521572156
Number Of Pages: 316

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This book investigates how observed differences in institutions affect political and economic outcomes in various social, economic, and political systems. It also examines how the institutions themselves change and develop in response to individual and collective beliefs, preferences, and strategies. This volume tackles both monetary and real topics in an integrated way, and represents the first coherent empirical investigation of positive models of political economy. The various contributions discuss issues of great topicality not just for Europe, but for all developed economies: why do central banks matter? What determines their independence? How do central bank independence and exchange rate regimes affect monetary integration and activism? The volume also discusses the costs of a monetary union, unemployment benefits, and redistributive taxation.

Preface
Introduction
Monetary Institutions and Policy
Reputational versus institutional solutions to the time-consistency problem in monetary policy
Monetary Union and monetary federalism: reciprocity political business cycles
The ultimate determinants of central bank independence
Central bank autonomy and exchange rate regimes - their effects on monetary accommodation and activism
Uncertainty, instrument choice, and the uniqueness of Nash equilibrium: microeconomic and macroeconomic examples
New empirical evidence on the costs of European Monetary Union
Exchange Rate Policy and Redistribution
Exchange rate anchors and inflation: a political economy approach
Why capital controls? Theory and evidence
The political economy of the Exchange Rate Mechanism
Unemployment benefits and redistributive taxation in the presence of labour quality externalities
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521572156
ISBN-10: 0521572150
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 316
Published: 13th June 1998
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.8 x 15.2  x 2.2
Weight (kg): 0.64