Goal-Independent Central Banks : Why Politicians Decide to Delegate

Why Politicians Decide to Delegate

Goal-Independent Central Banks : Why Politicians Decide to Delegate
A motivation for central bank independence (CBI) is that policy delegation helps politicians manage diverse coalitions. This paper develops a model of coalition formation that predicts when delegation will occur. An analysis of policy preferences survey data and CBI indicators supports the predictions. Case studies, drawn from several countries'... READ MORE...

Publication date: November 2006
ISBN 9781451865165
$18.00

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