Showing 1 - 7 of 7
We consider the political economy of a monetary union wheremember governments attempt to influence the policy of the commoncentral bank. Modeling this as a common agency with incentivecontracts, we show that if incentives are all that matters for the bank,the equilibrium implements a weighted...
Persistent link: https://www.econbiz.de/10011397656
Persistent link: https://www.econbiz.de/10010381445
Persistent link: https://www.econbiz.de/10001781579
Persistent link: https://www.econbiz.de/10001574792
We consider the political economy of a monetary union where member governments attempt to influence the policy of the common central bank. Modeling this as a common agency with incentive contracts, we show that if incentives are all that matters for the bank, the equilibrium implements a...
Persistent link: https://www.econbiz.de/10001554692
Persistent link: https://www.econbiz.de/10001524747
Persistent link: https://www.econbiz.de/10001769653