Bankers, bureaucrats, and central bank politics: the myth of neutrality
Auteur :
Adolph, Christopher
Éditeur :
Cambridge University Press
ISBN :
9781107032613
Date de publication :
15 avr. 2013
Dimensions :
23,4 x 15,6 x 2,5 cm
Poids :
780 g
Langue :
Anglais
Pays d'origine :
Grande Bretagne
Economists emphasize the role central banks' independence plays in achieving good economic outcomes. Using game theory and data from dozens of countries, Adolph illustrates that central bankers with different career trajectories choose different monetary policies. Central banks run by former bankers favor low inflation, whereas bureaucrats support low unemployment.