Appointing Central Bankers: The Politics of Monetary Policy in the United States and the European Monetary Union

ISBN-13: 9780521823333 / Angielski / Twarda / 2003 / 176 str.

Kelly Chang; Randall Calvert; Thrainn Eggertsson

Opis

Focusing on how the President and the Senate influence monetary policy by appointing Federal Reserve Board members, this book answers three questions about the appointment process and its effects. First, do politicians influence monetary policy via Federal Reserve appointments? Second, who influences the process--only the President or the President and the Senate? Third, how is the structure of the Federal Reserve appointment process explained? The study extends the analysis of the Federal Reserve Board to the European Central bank.

Recenzje

"Appointing Central Bankers makes an important contribution to our understanding of appointment power dynamics and impact on monetary policy in the United States and the European Central Bank. It is a "must read" for students of these institutions and should become an important methodological reference for students of other central banks and other types of regulatory agencies."
Irwin L. Morris, Perspectives on Politics

Spis treści

List of figures; List of tables; Acknowledgments; 1. Introduction; 2. A formal model of the appointment process; 3. Estimating monetary policy preferences; 4. Empirically testing the model's predictions; 5. Appointments to the European Central Bank; 6. The origins of the Federal Reserve appointment process; 7. Conclusions; Bibliography; Index.