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| How should large and small countries be represented in a currency union? Berger, Helge |
| Haupttitel | How should large and small countries be represented in a currency union? |
| Autor | Berger, Helge; Müller, Till |
| Seitenzahl | 41 S. |
| Schriftenreihe | Diskussionsbeiträge des Fachbereichs Wirtschaftswissenschaft ; 2004/20 : Volkswirtschaftliche Reihe |
| URL des Originaldokuments | URL >> |
| Fachbereich/Einrichtung | FB Wirtschaftswissenschaft |
| Erscheinungsjahr | 2004 |
| Dokumente | PDF-Datei
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| Freie Schlagwörter | Central Bank, Federal Central Bank, currency union, optimal representation, voting, ECB |
| DDC | 330 Wirtschaft |
| Dokumententyp/-Sammlungen | Monographie/Text |
| Medientyp/Format | Text |
| Abstract | The likely extension of the euro area has triggered a debate on the organization of the ECB, in particular on the apparent mismatch between relative economic size and voting rights in the Council. We present a simple model of optimal representation in a federal central bank addressing this question. Optimal voting weights reect two opposing forces: the wish to insulate common monetary policy from changing preferences at the national level, and the attempt to avoid an overly active or passive reaction to idiosyncratic national economic shocks. A perfect match between economic size and voting rights is rarely optimal, and neither is the one country, one vote princi- ple. Empirically, there are indications that the pattern of over- and under-representation of member countries in the ECB Council might be extreme by the standards of the US Fed and German Bundesbank and not always optimal. |
| Sprache | Englisch |
| Rechte | Nutzungsbedingungen |
| Identifier | 3-935058-90-X (ISBN) |
| Zugriffstatistik | |
| Statische URL | http://edocs.fu-berlin.de/docs/receive/FUDOCS_document_000000000459 |
| Erstellt am | 08.07.2008 - 11:20:20 |
| Letzte Änderung | 19.03.2013 - 11:55:10 |
