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Decision-Making of the ECB: Reform and Voting Power

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  • Ullrich, Katrin

Abstract

The ECB reform is designed to meet the challenges of an enlarged monetary union in the ECB Council. The reform is assessed by analysing alternatives for the classification of governors into groups of the rotation scheme like the synchronisation of the economic development of the member states. In a second approach, voting power indices are assigned to the governors allocated to the different groups instead of voting weights. Special attention is given to the difference between the political weight of a governor and the economic and population weight of its country of origin.

Suggested Citation

  • Ullrich, Katrin, 2004. "Decision-Making of the ECB: Reform and Voting Power," ZEW Discussion Papers 04-70, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  • Handle: RePEc:zbw:zewdip:2358
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    File URL: https://www.econstor.eu/bitstream/10419/24077/1/dp0470.pdf
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    References listed on IDEAS

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    1. Michael Frenkel & Ralf Fendel, 2003. "The new ECB voting system: Some room for improvement," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 38(6), pages 334-338, November.
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    5. Gabriel MANGANO, 1999. "Monetary Policy in EMU : a Voting-Power Analysis of Coalition Formation in the European Central Bank," Cahiers de Recherches Economiques du Département d'Econométrie et d'Economie politique (DEEP) 9908, Université de Lausanne, Faculté des HEC, DEEP.
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    7. 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.
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    12. Carsten Hefeker, 2002. "Monetary policy in a Union of 27: Enlargement and reform options," Intereconomics: Review of European Economic Policy, Springer;German National Library of Economics;Centre for European Policy Studies (CEPS), vol. 37(6), pages 315-320, November.
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    Cited by:

    1. Robert-Paul Berben & Beata Bierut & Philipp Maier, 2012. "The role of regional information in the optimal composition of a committee," Economics Bulletin, AccessEcon, vol. 32(1), pages 510-517.
    2. Carsten Hefeker, 2008. "Uncertainty And Wage Setting In A Monetary Union," Manchester School, University of Manchester, vol. 76(4), pages 391-404, July.
    3. Ansgar Belke & Barbara Schnurbein, 2012. "European monetary policy and the ECB rotation model," Public Choice, Springer, vol. 151(1), pages 289-323, April.
    4. Agnès Bénassy-Quéré & Edouard Turkisch, 2009. "The ECB Governing Council in an Enlarged Euro Area," Journal of Common Market Studies, Wiley Blackwell, vol. 47, pages 25-53, January.
    5. Carsten Hefeker, 2011. "Policy Uncertainty and Economic Reforms in a Monetary Union," German Economic Review, Verein für Socialpolitik, vol. 12(3), pages 274-285, August.
    6. repec:eee:joecas:v:14:y:2016:i:pb:p:157-167 is not listed on IDEAS

    More about this item

    Keywords

    ECB; reform; rotation scheme; voting power indices;

    JEL classification:

    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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