IDEAS home Printed from https://ideas.repec.org/a/kap/pubcho/v93y1997i3-4p427-53.html
   My bibliography  Save this article

The Bundesbank's Path to Independence: Evidence from the 1950s

Author

Listed:
  • Berger, Helge

Abstract

The German Bundesbank is frequently called the world's most independent and conservative central bank. Taking account of the path dependency of this reputation, both quantitative data and qualitative data on German central bank law and political conflicts are used to determine the factors that contributed to this reputation in the 1950s. It is shown that quantitative analysis has its limits and that law might be a misleading indicator in this respect. It is rather the analysis of policy conflicts between the Bundesbank and the government that yields information on the bank's path to independence. Copyright 1997 by Kluwer Academic Publishers

Suggested Citation

  • Berger, Helge, 1997. "The Bundesbank's Path to Independence: Evidence from the 1950s," Public Choice, Springer, vol. 93(3-4), pages 427-453, December.
    • Handle: RePEc:kap:pubcho:v:93:y:1997:i:3-4:p:427-53
    as

    Download full text from publisher

    File URL: http://journals.kluweronline.com/issn/0048-5829/contents
    File Function: link to full text
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to look for a different version below or search for a different version of it.

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Masciandaro, Donato & Romelli, Davide, 2015. "Ups and downs of central bank independence from the Great Inflation to the Great Recession: theory, institutions and empirics," Financial History Review, Cambridge University Press, vol. 22(3), pages 259-289, December.
    2. Helge Berger, 2006. "Optimal central bank design: Benchmarks for the ECB," The Review of International Organizations, Springer, vol. 1(3), pages 207-235, September.
    3. Donato Masciandaro & Davide Romelli, 2019. "Behavioral Monetary Policymaking: Economics, Political Economy and Psychology," World Scientific Book Chapters, in: Behavioral Finance The Coming of Age, chapter 9, pages 285-329, World Scientific Publishing Co. Pte. Ltd..
    4. Pierre L. Siklos & Martin T. Bohl, 2005. "The Bundesbank's Communications Strategy and Policy Conflicts with the Federal Government," Southern Economic Journal, John Wiley & Sons, vol. 72(2), pages 395-409, October.
    5. Bodea, Cristina & Hicks, Raymond, 2015. "Price Stability and Central Bank Independence: Discipline, Credibility, and Democratic Institutions," International Organization, Cambridge University Press, vol. 69(1), pages 35-61, January.
    6. Jorg Bibow, 2015. "The Euro's Savior? Assessing the ECB's Crisis Management Performance and Potential for Crisis Resolution," Economics Working Paper Archive wp_845, Levy Economics Institute.
    7. D. Masciandaro, 2019. "What Bird Is That? Central Banking And Monetary Policy In The Last Forty Years," BAFFI CAREFIN Working Papers 19127, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    8. Berger, Helge & Woitek, Ulrich, 2001. "The German political business cycle: money demand rather than monetary policy," European Journal of Political Economy, Elsevier, vol. 17(3), pages 609-631, September.
    9. Masciandaro, Donato, 2022. "Independence, conservatism, and beyond: Monetary policy, central bank governance and central banker preferences (1981–2021)," Journal of International Money and Finance, Elsevier, vol. 122(C).
    10. Jill Vardy, 2015. "Reputational Risk Management in Central Banks," Discussion Papers 15-16, Bank of Canada.
    11. Carsten Hefeker, 2021. "Stable money and central bank independence: implementing monetary institutions in postwar Germany," Public Choice, Springer, vol. 186(3), pages 287-308, March.
    12. Donato Masciandaro, 2021. "Central Bank Governance in Monetary Policy Economics (1981-2020)," BAFFI CAREFIN Working Papers 21153, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    13. Donato Masciandaro & Marc Quintyn, 2013. "The Evolution of Financial Supervision: the Continuing Search for the Holy Grail," SUERF 50th Anniversary Volume Chapters, in: Morten Balling & Ernest Gnan (ed.), 50 Years of Money and Finance: Lessons and Challenges, chapter 8, pages 263-318, SUERF - The European Money and Finance Forum.
    14. Bernd Hayo & Matthias Uhl, 2011. "The Effects of Legislated Tax Changes in Germany," MAGKS Papers on Economics 201142, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    15. Bodea, Cristina & Higashijima, Masaaki, 2017. "Central Bank Independence and Fiscal Policy: Can the Central Bank Restrain Deficit Spending?," British Journal of Political Science, Cambridge University Press, vol. 47(1), pages 47-70, January.
    16. Donato Masciandaro & Davide Romelli, 2018. "To Be or not to Be a Euro Country? The Behavioural Political Economics of Currency Unions," BAFFI CAREFIN Working Papers 1883, BAFFI CAREFIN, Centre for Applied Research on International Markets Banking Finance and Regulation, Universita' Bocconi, Milano, Italy.
    17. Singleton,John, 2010. "Central Banking in the Twentieth Century," Cambridge Books, Cambridge University Press, number 9780521899093.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:kap:pubcho:v:93:y:1997:i:3-4:p:427-53. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.