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An argument in favor of long terms for central bankers

  • Hahn, Volker

Drawing on the canonical New Keynesian model, we assess the impact of central bankers’ term duration on governments’ appointment choices. We show that longer terms induce the government to appoint more conservative central bankers, which is socially desirable.

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Article provided by Elsevier in its journal Economics Letters.

Volume (Year): 122 (2014)
Issue (Month): 2 ()
Pages: 132-135

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Handle: RePEc:eee:ecolet:v:122:y:2014:i:2:p:132-135
Contact details of provider: Web page: http://www.elsevier.com/locate/ecolet

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  14. Waller, Christopher J & Walsh, Carl E, 1996. "Central-Bank Independence, Economic Behavior, and Optimal Term Lengths," American Economic Review, American Economic Association, vol. 86(5), pages 1139-53, December.
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  18. Waller, Christopher J, 1989. "Monetary Policy Games and Central Bank Politics," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 21(4), pages 422-31, November.
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