The ECB Governing Council in an Enlarged Euro Area

29 Pages Posted: 10 Dec 2008

See all articles by Agnès Bénassy-Quéré

Agnès Bénassy-Quéré

Paris School of Economics (University Paris 1)

Edouard Turkisch

Université Paris

Abstract

We study the impact of rotating votes in the ECB Governing Council after EMU enlargement, based on national and euro-wide Taylor rules and on a convergence assumption. We find that the rotation system yields monetary policy decisions that are close both to full centralization and to a voting rule without rotations.

Suggested Citation

Benassy-Quere, Agnes and Turkisch, Edouard, The ECB Governing Council in an Enlarged Euro Area. JCMS: Journal of Common Market Studies, Vol. 47, Issue 1, pp. 25-53, January 2009, Available at SSRN: https://ssrn.com/abstract=1313940 or http://dx.doi.org/10.1111/j.1468-5965.2008.01832.x

Agnes Benassy-Quere (Contact Author)

Paris School of Economics (University Paris 1) ( email )

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HOME PAGE: http://www.parisschoolofeconomics.com/benassy-quere-agnes/agnesb.html

Edouard Turkisch

Université Paris

17, rue de la Sorbonne
Paris, IL 75005
France

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