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Central Bank boards around the world: Why does membership size differ?

  • Berger, Helge
  • Nitsch, Volker
  • Lybek, Tonny

This paper analyzes empirically differences in the size of central bank boards (or monetary policy committees) across countries. We discuss the possible determinants of a board's size. The empirical relevance of these factors is examined using a new dataset that covers the de jure membership size of 84 central bank boards at the end of 2003. We find that larger and more heterogeneous countries, countries with stronger democratic institutions, countries with floating exchange rate regimes, and independent central banks with more staff tend to have larger boards.

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Paper provided by Free University Berlin, School of Business & Economics in its series Discussion Papers with number 2008/5.

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Date of creation: 2008
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Handle: RePEc:zbw:fubsbe:20085
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  41. repec:rus:hseeco:181565 is not listed on IDEAS
  42. Lombardelli, Clare & Proudman, James & Talbot, James, 2005. "Committees Versus Individuals: An Experimental Analysis of Monetary Policy Decision Making," MPRA Paper 823, University Library of Munich, Germany.
  43. Jan Marc Berk & Beata K. Bierut, 2004. "The Effects of Learning in Interactive Monetary Policy Committees," Tinbergen Institute Discussion Papers 04-029/2, Tinbergen Institute.
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