Zwei Arten von Veto-Akteuren beeinflussen die Wahl von geldpolitischen Instititutionen: Akteure auf Parteiebene oder Regierungen unterhalb der nationalen Ebene, die stark in föderalen aber schwach in zentralistischen Systemen sind. Eine entscheidende Frage ist, ob Wähler imstande sind, die...

Current best practice in central banking views a high level of monetary policy predictability as desirable. A clear distinction, however, has to be made between short-term and longer-term predictability. While short-term predictability can be narrowly defined as the ability of the public to...

Current best practice in central banking views a high level of monetary policy predictability as desirable. A clear distinction, however, has to be made between short-term and longer-term predictability. While short-term predictability can be narrowly defined as the ability of the public to...