In an earlier paper in this journal, D. Masciandaro and F. Spinelli computed an index of central bank independence for a number of countries on the basis of the institutional arrangements in place in 1990. Since then the situation has changed and therefore that work needs an updating. This shows...

One of the most critical and debated issues about the functioning of the classical gold standard is the issue of asymmetries in balance of payments adjustment. London is believed to be by several authors the "conductor of the international orchestra" (Keynes, 1913). This view implies a highly...

This paper analyzes the interrelationships of official and private discount rates between seven European financial centers and, in particular, between London, Berlin, and Paris. Looking at the days and directions of all official discount rate changes in the seven centers, pairwise leads and lags...