Positive Political Economy : Theory and Evidence (Hardcover)

Preface; 1. Introduction Sylvester Eijffinger and Harry Huizinga; Part I. Monetary Institutions and Policy: 2. Reputational versus institutional solutions to the time-consistency problem in monetary policy Susanne Lohmann;3. Monetary Union and monetary federalism: reciprocity political business cycles Jurgen von Hagen;4. The ultimate determinants of central bank independence Sylvester Eijffinger and Eric Schaling; 5. Central bank autonomy and exchange rate regimes - their effects on monetary accommodation and activism Alex Cukierman, Pedro Rodriguez, and Steven Webb; 6. Uncertainty, instrument choice, and the uniqueness of Nash equilibrium: microeconomic and macroeconomic examples Dale Henderson and Ning Zhu;7. New empirical evidence on the costs of European Monetary Union Helene Erkel-Rousse and Jacques Melitz; Part II. Exchange Rate Policy and Redistribution: 8. Exchange rate anchors and inflation: a political economy approach Sebastian Edwards;9. Why capital controls? Theory and evidence Gian Maria Milesi-Ferretti;10. The political economy of the Exchange Rate Mechanism Patrick Minford;11. Unemployment benefits and redistributive taxation in the presence of labour quality externalities Harry Huizinga; Index.