Very few studies investigated central banking efficiency. Although Data Envelopment Analysis is widely used to measure efficiency within the banking industry, it has surprisingly never been implemented in a central banking context. In our study, we employ a radial DEA model to measure Eurosystem...

What were the distributional consequences of the recent demonetization in India? Can the implementation of demonetization be improved to mitigate its distributional impact? This paper answers these questions using a dynamic contracting model featuring costly state verification and...

This paper examines the influence of the biographical experience of monetary policy committee members on their performance in managing inflation and output volatility. Our sample covers major OECD countries in the 1999 to 2010 period. Using data envelopment analysis, we study the efficiency of...