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

"Written in the spirit of the long time Yale Professor, James Tobin, who has held the view that monetary policy is not neutral, this volume provides an analysis of the different economic performances exhibited by the USA, the Euro-area, and Japan in the last decade. Through addressing the...