An argument in favor of long terms for central bankers |
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Authors: | Volker Hahn |
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Affiliation: | Department of Economics, University of Konstanz, Box 143, 78457 Konstanz, Germany |
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Abstract: | Drawing on the canonical New Keynesian model, we assess the impact of central bankers’ term duration on governments’ appointment choices. We show that longer terms induce the government to appoint more conservative central bankers, which is socially desirable. |
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Keywords: | E58 |
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