The Political Economy of Monetary Institutions: An International Organization Reader

The Political Economy of Monetary Institutions: An International Organization Reader

by William Bernhard
     
 

ISBN-10: 0262524147

ISBN-13: 9780262524148

Pub. Date: 10/12/2003

Publisher: MIT Press

Recent analysis by political economists of monetary institution determinants in different countries has been limited by the fact that exchange rate regimes and central bank institutions are studied in isolation from each other,
without examining how one institution affects the costs and benefits of the other.
By contrast, the contributors to this volume

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Overview

Recent analysis by political economists of monetary institution determinants in different countries has been limited by the fact that exchange rate regimes and central bank institutions are studied in isolation from each other,
without examining how one institution affects the costs and benefits of the other.
By contrast, the contributors to this volume analyze the choice of exchange rate regime and level of central bank independence together; the articles (originally published in a special issue of International Organization) constitute a second generation of research on the determinants of monetary institutions. The contributors consider both economic and political factors to explain a country's choice of monetary institutions, and examine the effect of political processes in democracies, including interest group pressure, on the balance between economic and distributional policy.

The MIT Press

Product Details

ISBN-13:
9780262524148
Publisher:
MIT Press
Publication date:
10/12/2003
Series:
International Organization Readers
Edition description:
New Edition
Pages:
240
Product dimensions:
6.00(w) x 9.00(h) x 0.50(d)
Age Range:
18 Years

Table of Contents

Preface
The Political Economy of Monetary Institutions1
Partisan and Electoral Motivations and the Choice of Monetary Institutions Under Fully Mobile Capital33
Checks and Balances, Private Information, and the Credibility of Monetary Commitments59
Veto Players and the Choice of Monetary Institutions83
Political Parties and Monetary Commitments111
Real Sources of European Currency Policy: Sectoral Interests and European Monetary Integration139
Political System Transparency and Monetary Commitment Regimes169
Competing Commitments: Technocracy and Democracy in the Design of Monetary Institutions197

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