Building on the New Area Wide Model, we develop a 4-region macroeconomic model of the euro area and the world economy. The model (EAGLE, Euro Area and Global Economy model) is microfounded and designed for conducting quantitative policy analysis of macroeconomic interdependence across regions...

A formal model of the appointment process -- Estimating monetary policy preferences -- Empirically testing the model's predictions -- Appointments to the European Central Bank -- The origins of the Federal Reserve appointment process -- Conclusions