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How should large and small countries be represented in a currency union?

Berger, Helge; Mueller, Till - 2004

The likely extension of the euro area has triggered a debate on the organization of the ECB, in particular on the apparent mismatch between relative economic size and voting rights in the Council. We present a simple model of optimal representation in a federal central bank addressing this...

Persistent link: https://www.econbiz.de/10010261091

Central bank boards around the world: why does membership size differ?

Berger, Helge; Nitsch, Volker; Lybek, Tonny - 2007

This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is...

Persistent link: https://www.econbiz.de/10010264057

Too many cooks?: committees in monetary policy

Berger, Helge; Nitsch, Volker - 2008

How many people should decide about monetary policy? In this paper, we take an empirical perspective on this issue, analyzing the relationship between the number of monetary policy decision-makers and monetary policy outcomes. Using a new data set that characterizes Monetary Policy Committees...

Persistent link: https://www.econbiz.de/10010264342

Does money matter in the ECB strategy? : New evidence based on ECB communication

Berger, Helge; de Haan, Jakob; Sturm, Jan-Egbert - 2006

We examine the role of money in the policies of the ECB, using introductory statements of the ECB President at the monthly press conferences during 1999-2004. Over time, the relative amount of words devoted to the monetary analysis has decreased. Our analysis of indicators of the monetary policy...

Persistent link: https://www.econbiz.de/10010261407

Does conservatism matter? : a time series approach to central banking

Berger, Helge; Woitek, Ulrich - 1999

The empirical literature on central banking has found measures of central bank independence/conservatism to be … and conservatism. We avoid these shortcomings by estimating a single-country time series model for the German Bundesbank …. We find that an increase in central bank conservatism leads to higher short-term interest rates and a more activist …

Persistent link: https://www.econbiz.de/10009781685

Optimal central bank conservatism and monopoly trade unions

Berger, Helge; Hefeker, Carsten; Schöb, Ronnie - 2001

of central bank conservatism. …

Persistent link: https://www.econbiz.de/10011397779

Restructuring the ECB

Berger, Helge; Haan, Jakob de; Inklaar, Robert - 2003

Soon, euro area membership could more than double, with the vast majority of accession countries being quite different in economic terms compared with current members. Under the current decision-making system, this can lead to high decisionmaking costs and there is a risk that monetary policy...

Persistent link: https://www.econbiz.de/10011511101

Capital controls and exchange rate regimes : an empirical investigation

Berger, Helge; Sturm, Jan-Egbert; Haan, Jakob de - 2001

It is often argued that deregulation of international transactions and its effects on the globalization of financial markets is behind the decline in the attractiveness of fixed exchange rate regimes. We argue that, instead, much of the recently observed decrease in the level of capital controls...

Persistent link: https://www.econbiz.de/10011398048