This paper reviews recent research on central bank independence (CBI). After we have distinguished between independence and conservativeness, the literature on optimal inflation contracts is discussed, followed by research in which the inflationary bias is endogenized. Finally, the various...

This paper provides a description of the economic growth process and its major characteristics in the Netherlands from the 1930s up to the present. The first part presents some main characteristics of the long-run growth performance of the Dutch economy. It is shown that the Netherlands has...

Just like private companies depend crucially on their ability to reach customers, policymakers must communicate with private agents to be successful--and much of this communication is channeled through the media. This is especially true for central banks because the effectiveness of monetary...