This paper offers a new political economy explanation for thepervasive problem of siting hazardous waste treatment facilitiesin federal system. We first show that a decentralized systemyields the first-best waste treatment capacity level and that acentralized structure gives rise to free-riding...

Theory and practice of monetary policy have changed significantly over the past three decades. A very important part of today's monetary policy is management of the expectations of private market participants. Publishing and justifying the central bank's best forecast of inflation, output, and...

The topic approached in this book was inspired by a course on Central European Politics in the fall semester of the academic year 2005- 2006, attended at Central European University, Budapest. In this respect I am grateful to Karen Henderson, the course instructor, for being the first to...