Politikentflechtung ist Gewaltenteilung. Was spricht für den Grundsatz der Gewaltenteilung? Erstens: Die Gewaltenteilung verhindert eine Anballung politischer Macht in der Hand einiger weniger - sie schützt daher die Bürger vor Übergriffen des Staates. Gewaltenteilung dient dem...

By combining expansionary open market operations with sales of foreign exchange, the central bank can expand the monetary base without depreciating the exchange rate. Thus, if there is a monetary political business cycle, sales of foreign exchange are especially likely before elections. Our...

By combining expansionary open market operations with sales of foreign exchange, the central bank can expand the monetary base without depreciating the exchange rate. Thus, if there is a monetary political business cycle, sales of foreign exchange are especially likely before elections. Our...