This manuscript empirically assesses the effects of political institutions on economic growth. It analyzes how political institutions affect economic growth in different stages of democratization and economic development ...

This paper shows that price level indeterminacy in monetary models with multiple equilibria can be solved by the selection of an appropriate monetary policy regime, according to the demand elasticity of the real quantity ...

This paper establishes an optimal monetary policy to combat inflation in an economy wherein the inflationary phenomenon contains an inertial component. The formulation of the problem leads to an application of the optimal ...