This note merges the fact that real activity is persistent with a Barro-Gordon type model of endogenous monetary policy. It shows that persistence crucially affects policy choices. This applies in noncooperative games with a finite horizon and in games with an infinite horizon. Always,...

This paper looks at whether public attitudes towards a single European currency held in the European Union member states reflect a rational evaluation of the involved benefits and costs. It finds that they do: the looser monetary and fiscal policy was in the past, and the more time a country...

A public choice model of union wage bargaining behavior has led to the hypotheses that money wage growth rates crucially depend on government ideology and vary rhythmically with election dates. This provides another link between the economy and the polity in Western-type democracies which...

The paper looks at whether public attitudes towards a single European currency held in the European Union member states reflect a rational evaluation of the involved benefits and costs. It finds that they do: the looser monetary and fiscal policy was in the past, and the more time a country...