The link between low levels of central bank independence (CBI) and high levels of inflation has long been established by previous literature. This literature infers that the inverse relationship between CBI and levels of inflation is caused because of the existence of fiscal dominance. This...

This study examines the influence of select macroeconomic variables and globalization variables on the volume of patented innovations in five industrialized OECD countries (the U.S., the U.K., Germany, Japan, and Australia) and in five emerging countries known as BRICS (Brazil, Russia, India,...

Los modelos DSGE modernos están microfundamentados, y sus parámetros son estructurales, así que en principio deberían ser invariantes ante cambios de política económica y no estar sujetos a la crítica de Lucas. Pero la literatura ha encontrado que problemas de especificación generan...