The article discusses the monetary policy in small open economies with inflation targeting and their nominal convergence to the larger monetary area. Using panel data set, the paper considers the relationship between interest rates of interbank markets in the euro area and selected Central...

The paper investigates the effect of an exogenous social norm of administrative corruption on the incentives to be corrupt for bureaucrats that participate in the non-cooperative principal-agent game. This setting leads to many density dependent effects: i.e., critical population thresholds,...