Showing 1 - 6 of 6
The paper discusses key elements of optimal central bank design and applies its findings to the Eurosystem. A …
Persistent link: https://www.econbiz.de/10003301388
welfare gain associated with making the central bank less conservative than society, however if the outside option is in real … of central bank conservatism. …
Persistent link: https://www.econbiz.de/10011397779
size and voting power. One way to implement this principle is a rotation scheme for national central bank governors that …
Persistent link: https://www.econbiz.de/10011511101
distribution in the European Central Bank (ECB) council. We show that, in a model where labor unions internalize the inflationary …
Persistent link: https://www.econbiz.de/10011402520
representation in a federal central bank addressing this question. Optimal voting weights reflect two opposing forces: the wish to …
Persistent link: https://www.econbiz.de/10002521678
The empirical literature on central banking has found measures of central bank independence/conservatism to be …. We find that an increase in central bank conservatism leads to higher short-term interest rates and a more activist … economy, higher output and somewhat lower inflation. We also investigate the interaction between the central bank and the …
Persistent link: https://www.econbiz.de/10009781685