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European monetary policy and the ECB rotation model

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  • Ansgar Belke
  • Barbara Schnurbein

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Suggested Citation

  • Ansgar Belke & Barbara Schnurbein, 2012. "European monetary policy and the ECB rotation model," Public Choice, Springer, vol. 151(1), pages 289-323, April.
    • Handle: RePEc:kap:pubcho:v:151:y:2012:i:1:p:289-323
    DOI: 10.1007/s11127-010-9748-9
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    4. Ansgar Belke & Barbara Styczynska, 2006. "The Allocation of Power in the Enlarged ECB Governing Council: An Assessment of the ECB Rotation Model," Journal of Common Market Studies, Wiley Blackwell, vol. 44(5), pages 865-897, December.
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    15. Napel, Stefan & Widgrén, Mika, 2017. "Power measurement as sensitivity analysis: a unified approach," Center for Mathematical Economics Working Papers 345, Center for Mathematical Economics, Bielefeld University.
    16. Friedrich Heinemann & Felix P. Huefner, 2004. "Is The View From The Eurotower Purely European? – National Divergence And Ecb Interest Rate Policy," Scottish Journal of Political Economy, Scottish Economic Society, vol. 51(4), pages 544-558, September.
    17. Krause, George A, 1996. "Agent Heterogeneity and Consensual Decision Making on the Federal Open Market Committee," Public Choice, Springer, vol. 88(1-2), pages 83-101, July.
    18. Ansgar Belke, 2003. "The rotation model is not sustainable," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 38(3), pages 119-124, May.
    19. Stefan Napel & Mika Widgrén, 2005. "The Possibility of a Preference-Based Power Index," Journal of Theoretical Politics, , vol. 17(3), pages 377-387, July.
    20. Christian Fahrholz & Philipp Mohl, 2004. "EMU-enlargement and the Reshaping of Decision-making within the ECB Governing Council: A Voting-Power Analysis," Eastward Enlargement of the Euro-zone Working Papers wp23, Free University Berlin, Jean Monnet Centre of Excellence, revised 01 Jun 2004.
    21. Gerlach, Stefan & Schnabel, Gert, 2000. "The Taylor rule and interest rates in the EMU area," Economics Letters, Elsevier, vol. 67(2), pages 165-171, May.
    22. Ansgar Belke & Barbara Styczynska, 2006. "The Allocation of Power in the Enlarged ECB Governing Council: An Assessment of the ECB Rotation Model," Journal of Common Market Studies, Wiley Blackwell, vol. 44, pages 865-897, December.
    23. Guillermo Owen, 1972. "Multilinear Extensions of Games," Management Science, INFORMS, vol. 18(5-Part-2), pages 64-79, January.
    24. Ullrich, Katrin, 2004. "Decision-Making of the ECB: Reform and Voting Power," ZEW Discussion Papers 04-70, ZEW - Leibniz Centre for European Economic Research.
    25. Francesco Passarelli & Jason Barr, 2007. "Preferences, the Agenda Setter, and the Distribution of Power in the EU," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 28(1), pages 41-60, January.
    26. Joseph G. Haubrich & Owen F. Humpage, 2001. "Coalitions, power, and the FOMC," Working Papers (Old Series) 0103, Federal Reserve Bank of Cleveland.
    27. Ellen Meade, 2003. "A (critical) appraisal of the ECB’s voting reform," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 38(3), pages 129-131, May.
    28. Henry W. Chappell, Jr. & Rob Roy McGregor & Todd A. Vermilyea, 2005. "Committee Decisions on Monetary Policy: Evidence from Historical Records of the Federal Open Market Committee," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262033305, December.
    29. Taylor, John B., 1993. "Discretion versus policy rules in practice," Carnegie-Rochester Conference Series on Public Policy, Elsevier, vol. 39(1), pages 195-214, December.
    30. Agnès Bénassy-Quéré & Edouard Turkisch, 2009. "The ECB Governing Council in an Enlarged Euro Area," Journal of Common Market Studies, Wiley Blackwell, vol. 47, pages 25-53, January.
    31. Henry Chappell & Rob McGregor & Todd Vermilyea, 2007. "The persuasive power of a Committee Chairman: Arthur Burns and the FOMC," Public Choice, Springer, vol. 132(1), pages 103-112, July.
    32. Leech, Dennis, 2002. "Designing the Voting System for the Council of the European Union," Public Choice, Springer, vol. 113(3-4), pages 437-464, December.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Di Giannatale, Paolo & Passarelli, Francesco, 2013. "Voting chances instead of voting weights," Mathematical Social Sciences, Elsevier, vol. 65(3), pages 164-173.
    2. Belke, Ansgar, 2017. "Central bank communication: Managing expectations through the monetary dialogue," Ruhr Economic Papers 692, RWI - Leibniz-Institut für Wirtschaftsforschung, Ruhr-University Bochum, TU Dortmund University, University of Duisburg-Essen.
    3. Gnan, Phillipp & Rieder, Kilian, 2023. "The (not so) quiet period: Communication by ECB decision-makers during monetary policy blackout days☆," Journal of International Money and Finance, Elsevier, vol. 130(C).
    4. Potrafke, Niklas, 2013. "Minority positions in the German Council of Economic Experts: A political economic analysis," European Journal of Political Economy, Elsevier, vol. 31(C), pages 180-187.
    5. Belke Ansgar, 2013. "Non-Standard Monetary Policy Measures – Magic Wand or Tiger by the Tail?," Review of Economics, De Gruyter, vol. 64(3), pages 341-368, December.
    6. Diana Cheng & Peter Coughlin, 2017. "Using equations from power indices to analyze figure skating teams," Public Choice, Springer, vol. 170(3), pages 231-251, March.
    7. Ansgar Belke, 2014. "Monetary dialogue 2009–2014: Looking backward, looking forward," Intereconomics: Review of European Economic Policy, Springer;ZBW - Leibniz Information Centre for Economics;Centre for European Policy Studies (CEPS), vol. 49(4), pages 204-211, July.
    8. repec:zbw:rwirep:0477 is not listed on IDEAS
    9. Ansgar Belke, 2013. "Non-Standard Monetary Policy Measures – Magic Wand or Tiger by the Tail?," Ruhr Economic Papers 0447, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    10. Badinger, Harald & Nitsch, Volker, 2014. "National representation in supranational institutions: The case of the European Central Bank," Journal of Comparative Economics, Elsevier, vol. 42(1), pages 19-33.
    11. Louis Rouanet & Peter Hazlett, 2023. "The redistributive politics of monetary policy," Public Choice, Springer, vol. 194(1), pages 1-26, January.
    12. repec:zbw:rwirep:0447 is not listed on IDEAS
    13. Rieder, Kilian & Gnan, Phillipp, 2022. "The (Not So) Quiet Period: Communication by ECB Decision-makers during Monetary Policy Blackout Days," CEPR Discussion Papers 15735, C.E.P.R. Discussion Papers.
    14. Klose, Jens, 2016. "Country differences in the ECB monetary reaction function," The Journal of Economic Asymmetries, Elsevier, vol. 14(PB), pages 157-167.
    15. Ansgar Belke, 2014. "Monetary Dialogue 2009-2014 – Looking Backward, Looking Forward," Ruhr Economic Papers 0477, Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Ruhr-Universität Bochum, Universität Dortmund, Universität Duisburg-Essen.
    16. Chortareas, Georgios & Noikokyris, Emmanouil, 2014. "Monetary policy and stock returns under the MPC and inflation targeting," International Review of Financial Analysis, Elsevier, vol. 31(C), pages 109-116.
    17. Płóciennik Sebastian, 2021. "Germany’s attitude towards the enlargement of the eurozone," Economics and Business Review, Sciendo, vol. 7(1), pages 47-67, March.

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    More about this item

    Keywords

    Euro area; European central bank; Monetary policy; Rotation; Voting rights; D72; D78; E58;
    All these keywords.

    JEL classification:

    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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