Should the Individual Voting Records of Central Bankers be Published?
We examine whether it is socially beneficial for the individual voting records of central bank council members to be published when the general public is unsure about central bankers' efficiency and central bankers are aiming for re-election. We show that publication is initially harmful since somewhat less efficient central bankers attempt to imitate highly efficient central bankers in their bid to get re-elected. After re-election, however, losses will be lower when voting records are published since the government is more easily able to distinguish highly efficient from less efficient central bankers and can make central bankers individually accountable. Nevertheless, the negative effects of voting transparency predominate and expected overall losses are always larger when voting records are published.
|Date of creation:||2001|
|Contact details of provider:|| Postal: Postfach 10 06 02, 60006 Frankfurt|
Phone: 0 69 / 95 66 - 34 55
Fax: 0 69 / 95 66 30 77
Web page: http://www.bundesbank.de/
More information through EDIRC
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Ottaviani, Marco & Sorensen, Peter, 2001. "Information aggregation in debate: who should speak first?," Journal of Public Economics, Elsevier, vol. 81(3), pages 393-421, September.
- Scharfstein, David. & Stein, Jeremy C., 1988.
"Herd behavior and investment,"
WP 2062-88., Massachusetts Institute of Technology (MIT), Sloan School of Management.
- Hans Gersbach & Volker Hahn, 2004. "Voting Transparency, Conflicting Interests, And The Appointment Of Central Bankers," Economics and Politics, Wiley Blackwell, vol. 16, pages 321-345, November.
- Petra M. Geraats, 2002. "Central Bank Transparency," Economic Journal, Royal Economic Society, vol. 112(483), pages 532-565, November.
- Bauke Visser & Otto H. Swank, 2005.
"On Committees of Experts,"
Tinbergen Institute Discussion Papers
05-028/1, Tinbergen Institute.
When requesting a correction, please mention this item's handle: RePEc:zbw:bubdp1:4148. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (ZBW - German National Library of Economics)
If references are entirely missing, you can add them using this form.