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- W1482002843 abstract "We consider the political economy of a monetary union where member governments attempt to influence the policy of the common central bank. Modeling this as a common agency with incentive contracts, we show that if incentives are all that matters for the bank, the equilibrium implements a weighted average of the countries' most preferred policy. We then argue that making the bank inflation averse and/or attentive towards the countries' economic developments is undesirable in this context." @default.
- W1482002843 created "2016-06-24" @default.
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- W1482002843 date "2000-01-01" @default.
- W1482002843 modified "2023-10-15" @default.
- W1482002843 title "Equilibrium Contracts for the Central Bank of a Monetary Union" @default.
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- W1482002843 doi "https://doi.org/10.2139/ssrn.255370" @default.
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