Bargaining Over EMU vs EMS : Why Might The ECB be The Twin Sister of The Bundesbank ?  

Oleh:

Debrun, Xavier

Jenis: Article from Journal - ilmiah internasional
Dalam koleksi: The Economic Journal (EBSCO) vol. 111 no. 473 (2001), page 566-590.
Topik: bargaining power; bargaining; EMU; EMS; ECB; twin sister; bundesbank
Fulltext: 566.pdf (274.6KB)

Ketersediaan

Perpustakaan Pusat (Semanggi) Nomor Panggil: EE28.4 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

Lihat Detail Induk

Isi artikel

Various authors argue that the European Central Bank (ECB) closely resembles the Bundesbank because of similarities in the legal status and in the behaviour of the two institutions. That 'twin - sister hypothesis' (TSH) contrasts with theoretical analyses that often assume a 'symmetric' ECB. We propose a model where countries bargain over the 'type' of the ECB, defined as the set of relative weights attached to individual preferences in the joint objective function of the bank. We find the conditions under which the TSH is a Nash bargaining equilibrium. The model emphasises the potential impact of the relative weight held by each country in the European Monetary System (EMS).

Opini Anda

Klik untuk menuliskan opini Anda tentang koleksi ini!

Kembali