Alex Cukierman is well known for his work on central bank behavior. This book brings together a large body of Cukierman's research and integrates it with recent developments in the political economy of monetary policy. Filled with applications and carefully worked out technical detail, it provides a valuable comprehensive analysis of central bank decisions, of the various effects of policy on inflation, and of the feedback from inflationary expectations to policy choices.Cukierman uncovers and analyzes the reasons for positive inflation and rates of monetary expansion.
What political and economic factors stimulate growth and make an economy expand? These original contributions by some of today's leading macroeconomists and political economists explore a broad spectrum of social, political, and technological variables that encourage or impede economic growth. Topics range from economic reform and price flexibility to the economic effects of political coups and include both theoretical analysis and empirical results.