BÉNASSY-QUÉRÉ, AGNÈS; TURKISCH, EDOUARD - In: Journal of Common Market Studies 47 (2009) 01, pp. 25-53
We study the impact of rotating votes in the ECB Governing Council after EMU enlargement, based on national and euro-wide Taylor rules and on a convergence assumption. We find that the rotation system yields monetary policy decisions that are close both to full centralization and to a voting...