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Volume 21  Number 3  •  Winter 2017
Other Issues:  

Some Political Economy of Monetary Rules
By Alexander William Salter
This article appeared in the Winter 2017 issue of The Independent Review

Political economy, especially analysis that emphasizes incentives and knowledge, can offer insights about which rules for monetary policy would best help to stabilize the macroeconomy and prevent disasters such as the recent financial crisis. It can also tell us something about which monetary rules are more likely to be implemented.