In this paper we critically review the literature on the political economy of monetary policy emphasizing the questions opened by the recent …nancial crisis. We begin with a discussion of the issue of rules versus discretion. We then examine the independence of Central banks both in normal times and in crisis and in relation to the political cycles. Finally we address international institutiona...

Educational disadvantage is an essentially contested, political concept. At the same time there is a “phoney consensus” (O’Sullivan, 1999) surrounding the issue, i.e., policy debates on the topic often fail to reflect this contestation. This lack of awareness of the political context to the debate is evident in relation to the targets and measures set for addressing educational disadvantage. Wh...

Using social dominance theory and structural balance theory to analyze the political and psychological perspectives of subordinated peoples, we argue that struggles between dominant and subordinated polities are embedded in layered power structures. In such contexts, it is important to examine publics’ political desires and interests in relation to their political elites’ positions or choices o...

• We examined the relation between political ideology and racial categorization. • People categorized morphed faces that ranged from 100% Black to 100% White. • Conservatism (vs. liberalism) was associated with the tendency to categorize racially ambiguous faces as Black. • Relation between ideology and categorization was mediated by opposition to equality. • This research helps to explain the ...

This study investigated the role of character strengths and virtues in moderating relations between conflict exposure and psychiatric symptoms among 1078 adolescents aged 13-15 living in southern Israel, who were exposed to lengthy periods of war, terrorism and political conflict. Adolescents were assessed for character strengths and virtues, political violence exposure using the Political Life...

This paper uses a large panel data set to examine the relation between elections and fiscal policy. We find evidence of political budget cycles in both developed and developing countries: government spending increases before elections while revenues fall, leading to a larger deficit in election years. We demonstrate that political budget cycles are much larger in developing countries than in de...

certainly, methodology of political jurisprudence (feghe seyasi) is closely related to “ejtehad”( practicing religious jurisprudence) . so, methodologically, understanding characteristics of political jurisprudence , requires understanding ejtehad. and ejtehad ,in turn, requires understanding the relations of it with “language” and “action” .therefor, understanding the two relations, clears the...

Article history: Received 7 August 2014 Received in revised form 20 June 2015 Accepted 29 June 2015 Available online 9 July 2015 This study investigates whether a firm with strong corporate governance (CG) requires political connections (PCs), that is, we examine whether CG and PC substitute for or complement each other. Using 71,069 individual bank loan contracts from Taiwan, we examine how lo...

We use the ratio of growth in global military expenditures to gross domestic product (GDP) to capture ex ante expectations of political instability and explore the relation between this measure and returns. In a standard global asset pricing framework with 44 countries, this measure helps to explain cross-country return differences. Furthermore, emerging countries have greater exposure to inter...

The political and economic circumstances in the transition countries changed substantially after the turning point in the 1990s. To date the transformation process is far from being completed. This also applies to the trade unions. Their tasks and possibilities in relation to interest protection have changed fundamentally after the collapse of the socialist economic order. Trade unions today ha...