BIS paper explores how central bankers’ lives shape policy
Officials who have experienced high inflation tend to be more hawkish, researcher finds
Central bankers who have lived through periods of high inflation tend to have a more hawkish monetary policy stance, a study from the Bank for International Settlements has found.
The working paper, published on November 19, explores how monetary policy-makers’ experiences influence their decisions. The roles analysed include chair, governor, deputy governor and board member. The study collected information on officials’ date of birth, country, gender, education, career experience, and their
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