Using the Bank of Canada's main projection and policy-analysis model, ToTEM, this paper measures the welfare gains of switching from inflation targeting to price-level targeting under imperfect credibility. Following the policy change, private agents assign a probability to the event that the...

This paper analyzes the monetary policy response to rising inflation in emerging and developing countries associated with the food and oil price shocks in 2007 and the first half of 2008. It reviews inflation developments in a sample of countries covering all regions and a broad range of...

The research agenda of Europeanization is currently highly focused on issued related to what accounts for the 'horizontal' interaction between domestic actors and how these actors make use of stimuli originating from the EU. This paper aims to contribute to this line of inquiry through the case...

The focus of this paper is on identifying the barriers to successful implementation of sustainable tourism policy. The research used exploratory and descriptive approaches to identify barriers from the literature as well as field research to determine perceived barriers from key respondents in...

This Selected Issues paper describes the monetary transmission mechanism in Sierra Leone. The paper uses a vector autoregression model to explore the links between policy changes by The Bank of Sierra Leone and real variables, such as output and prices. The paper describes Sierra Leone’s...

Purpose – The purpose of this paper is to explore and problematizes one of the oft-cited reasons why the implementation of public policy and other development initiatives goes wrong – namely that there is a mismatch or antagonistic relationship between street-level worker’s decisions and...

This paper examines the dynamics between monitoring and evaluation (M&E) and government performance in developing countries, where M&E systems are expanding rapidly. Findings in Bolivia suggest that approaches to M&E can lower staff morale, create burdensome paperwork, blind managers to...