The twelfth volume of the Journal of Government and Economics (JGE) was released in the winter of 2023, with articles exploring a variety of topics in the field. Jafar El Armali examines the introduction of central bank digital currencies, showing that fiscal policy designed in coordination with monetary policy can assist in achieving optimal consumption while maintaining price stability and financial stability. Doron Nisani considers the separation of powers principle in a political economy and its role in preserving public welfare given a situation of structural market failure and severe political pressure. Radeef Chundakkadan investigates the differential effect of monetary policy on female- and male-run firms as well as the impact of gender equality on monetary policy-led credit market discrimination. Beatriz Simon-Yarza develops a novel theoretical approach to explain the changing role of corruption in relation to growth during the process of China’s recent economic development. Michael Gmeiner and Robert Gmeiner estimate the employment effects of quasi-random variation in federal minimum wage compliance within the US restaurant industry for states lacking a minimum wage. As always, all articles are open access and can be found by simply clicking on the links below.

Central bank digital currency and fiscal policy in a Diamond-Dybvig Model

Jafar El Armali

A political argument for inefficiency under severe political pressure

Doron Nisani

Monetary policy and gender discrimination in the credit market

Radeef Chundakkadan

The changing wheels hypothesis. Corruption and development: Evidence from China

Beatriz Simon-Yarza

Estimating the employment effect of the minimum wage through variation in compliance: Evidence from five US states

Michael Gmeiner, Robert Gmeiner