Political Macroeconomics: A Survey of Recent Developments
综述了政治宏观经济学的发展，涵盖从保守央行行长到货币政策与制度设计的最新讨论，包括通胀稳定权衡、央行独立性、政治商业周期及财政与货币政策的博弈互动，为研究者提供统一分析框架。
The paper surveys political macroeconomics, covering its development from Rogoff’s conservative central banker to the most recent discussions of monetary policy and institutional design. Topics include the inflation‐stabilization trade‐off, central bank independence with escape clauses and overruling with costs, inflation targets, performance contracts for monetary authorities, and the consequences of output persistence for these issues. Further topics are the political business cycle when output is persistent, the political macroeconomics of fiscal policy, the government spending bias, and the game‐theoretic interaction between fiscal and monetary policy. All work is discussed within a coherent analytical framework.