The Allocation of Power in the Enlarged ECB Governing Council: An Assessment of the ECB Rotation Model
This study analyses the allocation of power in the Governing Council of the European Central Bank (ECB) as it enlarges to accommodate new members of the economic and monetary union. For this purpose, two classical power indices that have their origin in solutions to co-operative games are applied. First, an assessment is made of the effects of enlargement on the voting power of different subgroups of the Governing Council that arise in the wake of the continuous accession process. Second, a systematic comparison is carried out to the status quo rule ('one member, one vote') with respect to the voting power of the ECB Executive Board and to the representativeness of European monetary policy, along with the potential for its renationalization. Copyright 2006 Blackwell Publishing Ltd.
(This abstract was borrowed from another version of this item.)
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- 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.
- Dreyer, Jacob S & Schotter, Andrew, 1980.
"Power Relationships in the International Monetary Fund: The Consequences of Quota Changes,"
The Review of Economics and Statistics,
MIT Press, vol. 62(1), pages 97-106, February.
- Dreyer, Jacob S. & Schotter, Andrew, 1978. "Power Relationships in the International Monetary Fund: The Consequences of Quota Changes," Working Papers 78-06, C.V. Starr Center for Applied Economics, New York University.
- Widgren, Mika, 1994. "Voting power in the EC decision making and the consequences of two different enlargements," European Economic Review, Elsevier, vol. 38(5), pages 1153-1170, May.
- Widgren, Mika, 1991. "Voting Power in the EC Decision Making and the Consequencesof two Different Enlargements," Discussion Papers 377, The Research Institute of the Finnish Economy.
- Ellen Meade, 2003. "A (critical) appraisal of the ECB’s voting reform," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 38(3), pages 129-131, May.
- Leech, D., 2001. "Fair Reweighting of the Votes in the EU Council of Ministers and the Choice of Majority Requirement for Qualified Majority Voting during Successive Enlargements," The Warwick Economics Research Paper Series (TWERPS) 587, University of Warwick, Department of Economics.
- Helge Berger, 2002. "The ECB and Euro-Area Enlargement," IMF Working Papers 02/175, International Monetary Fund.
- Ansgar Belke, 2003. "The rotation model is not sustainable," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 38(3), pages 119-124, May.
- Leech, D., 2000. "Members' Voting Power in the Governance of the International Monetary Fund," The Warwick Economics Research Paper Series (TWERPS) 583, University of Warwick, Department of Economics. Full references (including those not matched with items on IDEAS)
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