آیا سلیقه ها نهادها را شکل می دهد؟ مورد گریز از تورم و هدفگذاری تورمی

We show that preferences, estimated with subjective measures of individual well-being, help to explain the adoption of certain types of institutions. In particular, we show that countries exhibiting greater inflation aversion are more likely to adopt the inflation targeting monetary regime.