Central Bank Boards Around the World: Why Does Membership Size Differ?

Helge Berger, Tonny Lybek and Volker Nitsch

No 2006/281, IMF Working Papers from International Monetary Fund

Abstract: This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is examined using a new dataset that covers the de jure membership size of 84 central bank boards at the end of 2003. We find that larger and more heterogeneous countries, countries with stronger democratic institutions, countries with floating exchange rate regimes, and independent central banks with more staff tend to have larger boards.

Keywords: WP; MPC size; exchange rate; monetary policy; MPC member; implementation board (search for similar items in EconPapers)
Pages: 46
Date: 2006-12-01
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Citations: View citations in EconPapers (19)

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Related works:
Journal Article: Central bank boards around the world: Why does membership size differ? (2008)
Working Paper: Central Bank Boards around the World: Why Does Membership Size Differ? (2008)
Working Paper: Central Bank Boards around the World: Why does Membership Size Differ? (2007)
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