Bankers, Bureaucrats, and Central Bank Politics

The Myth of Neutrality

AvChristopher Adolph

Inbunden, Engelska, 2013

Del i serien Cambridge Studies in Comparative Politics

1 536 kr

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Häftad

545 kr

Beskrivning

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.

Produktinformation

Utgivningsdatum:2013-04-15
Mått:156 x 234 x 25 mm
Vikt:780 g
Format:Inbunden
Språk:Engelska
Serie:Cambridge Studies in Comparative Politics
Antal sidor:390
Förlag:Cambridge University Press
ISBN:9781107032613
Utmärkelser:Levine Prize, Research Committee on the Structure and Organization of Government, International Political Science Association 2014

Utforska kategorier

Statsvetenskap och politisk teori inom Samhälle och politik

Mer om författaren

Christopher Adolph is Assistant Professor of Political Science and Adjunct Assistant Professor of Statistics at the University of Washington, Seattle, where he is also a core member of the Center for Statistics and the Social Sciences. He is a former Robert Wood Johnson Scholar in Health Policy Research and won the American Political Science Association's Mancur Olson Award for the best dissertation in political economy. His research on comparative political economy and quantitative methods has appeared in the American Political Science Review, Political Analysis, Social Science and Medicine and other academic journals.

Recensioner i media

'Adolph has written a timely book for students of monetary policy, central banking, and comparative political economy. The main messages are accessible to a wide audience and have implications not only for economics, but also for law and sociology.' Anne-Caroline Hüser, International Journal of Constitutional Law

Innehållsförteckning

1. Agents, institutions, and the political economy of performance; 2. Career theories of monetary policy; 3. Careers and inflation in industrial democracies; 4. Careers and the monetary policy process; 5. Careers and inflation in developing countries; 6. The uses of autonomy: what independence really means; 7. Partisan governments, labor unions, and monetary policy; 8. The politics of central banker appointment; 9. The politics of central banker tenure; 10. Conclusion: the dilemma of discretion.