The ECB Governing Council in an Enlarged Euro Area

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Series Details Vol.47, No.1, January 2009, p25-54
Publication Date January 2009
ISSN 0021-9886
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Abstract: This article studies 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. It finds that the rotation system yields monetary policy decisions that are close both to full centralization and to a voting rule without rotations.

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