Book notes: Bankers, Bureaucrats and Central Bank Politics, by Christopher Adolph
Analysis of those in charge of monetary policy decisions in advanced economies between 1950–2001, attempting to understand the role of personal background in decision-making
Christopher Adolph, Bankers, Bureaucrats and Central Bank Politics: The Myth of Neutrality, Cambridge University Press, 2016, 357 pages
In stylised stories of how modern monetary policy should work, much emphasis is placed on reasonably specific announced targets, typically for inflation, and on the role of transparency and other accountability mechanisms that ensure outcomes are kept in line with those targets. Less attention has been paid to the people who make the monetary policy decisions
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