Gender and central banking |
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| Institution: | 1. Department of Economics and Business, The University of Cagliari, Viale Sant’Ignazio 17, 09123, Cagliari, Italy;2. Department of Economics, Business, Mathematics and Statistics (DEAMS), The University of Trieste, Via dell’ Università 1, 34123, Trieste, Italy;1. Universidad Icesi – POLIS, Cali, Colombia;2. Universidad Icesi, Economics Department, Cali, Colombia;3. Universidad Icesi, CIENFI, Cali, Colombia;1. Department of Economics, Old Dominion University, 2021 Constant Hall, Norfolk, VA, 23529, USA;2. A.R., Sanchez School of Business, Texas A&M International University, 5201 University Blvd, Laredo, TX, 78041, USA |
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| Abstract: | Female Central Bank chairs represent but a tiny minority. To understand why, this article analyzes socio-economic and socio-political characteristics of the countries where women have chaired Central Banks. Then, it suggests that gender differences in preferences as regards monetary policy goals may have some influence. This hypothesis is based on an empirical analysis showing that female Central Bank chairs focus more than their male counterparts on achieving the price stability goal. This means, then, that women are more resistant than men to political pressures. Finally, it concludes that gender differences in degree of conservatism may be an explanatory factor in female underrepresentation in the Central Bank chairs. |
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| Keywords: | Central banks Conservatism Female Gender gap Monetary policy Preference parameters |
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