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Bankers, Bureaucrats, and Central Bank Politics: The Myth of Neutrality
Adolph, Christopher
New York: Cambridge University Press 2013
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Título:
Bankers, Bureaucrats, and Central Bank Politics: The Myth of Neutrality
Autor:
Adolph, Christopher
Assuntos:
Banking system
;
Banks and banking, Central
;
Bureaucracy
;
Central banks
;
Monetary economics
;
Monetary policy
;
Political aspects
Notas:
SourceType-Books-1
ObjectType-Book-1
content type line 7
Descrição:
Most studies of the political economy of money focus on the laws protecting central banks from government interference; this book turns to the overlooked people who actually make monetary policy decisions. Using formal theory and statistical evidence from dozens of central banks across the developed and developing worlds, this book shows that monetary policy agents are not all the same. Molded by specific professional and sectoral backgrounds and driven by career concerns, central bankers with different career trajectories choose predictably different monetary policies. These differences undermine the widespread belief that central bank independence is a neutral solution for macroeconomic management. Instead, through careful selection and retention of central bankers, partisan governments can and do influence monetary policy - preserving a political trade-off between inflation and real
economic
performance even in an age of legally independent central banks.
Títulos relacionados:
Cambridge Studies in Comparative Politics
Editor:
New York: Cambridge University Press
Data de criação/publicação:
2013
Formato:
390
Idioma:
Inglês
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