Divided boards: Partisanship through delegated monetary policy

Etienne Farvaque and Gaël Lagadec

No B 01-2001, ZEI Working Papers from University of Bonn, ZEI - Center for European Integration Studies

Abstract: While monetary policy decisions are mainly taken by Committees (as is the case for the ECB, or for the Federal Reserve), the literature largely stands on the …ction of a single central banker, be it (or not) a conservative one. The purpose here is to consider explicitly the plural dimension of monetary policy Boards, and to investigate the consequences of such a decision structure for monetary policy rules.

Keywords: Partisan Theory; Policy Boards; Monetary Union (search for similar items in EconPapers)
JEL-codes: E50 E58 (search for similar items in EconPapers)
Date: 2001
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:zeiwps:b012001

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