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Journal of Economic Literature - Book Review

JEL Volume. 52, Issue 1 | leftPrevious Review Next Review right

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Book(s) Reviewed

Bankers, Bureaucrats, and Central Bank Politics: The Myth of Neutrality by Christopher Adolph

Published By: Cambridge Series in Comparative Politics. Cambridge and New York: Cambridge University Press
ISBN: 978-1-107-03261-3
Date of Publication: 2013


Book Review Detail

Reviewed by: Donato Masciandaro of Bocconi University
Review DOI: 10.1257/jel.52.1.211.r8
Review Pages: 223-26

Book Review Abstract

Donato Masciandaro of Bocconi University reviews, "Bankers, Bureaucrats, and Central Bank Politics: The Myth of Neutrality" by Christopher Adolph. The Econlit abstract of this book begins: "Presents a new approach to the politics of money, focusing on the role played by central bankers and their preferences. Discusses agents, institutions, and the political economy of performance; career theories of monetary policy; central banker careers and inflation in industrial democracies; careers and the monetary policy process—three mechanism tests; careers and inflation in developing countries; how central bankers use their independence; partisan governments, labor unions, and monetary policy; the politics of central banker appointment; the politics of central banker tenure; and the dilemma of discretion. Adolph is Assistant Professor of Political Science, Adjunct Assistant Professor of Statistics, and a core faculty member of the Center for Statistics and the Social Sciences at the University of Washington, Seattle."


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Book Review Authors

Donato Masciandaro of Bocconi University


JEL Classifications

D72: Models of Political Processes: Rent-seeking, Elections, Legislatures, and Voting Behavior
E31: Price Level; Inflation; Deflation
E52: Monetary Policy
E58: Central Banks and Their Policies
G21: Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages; Foreclosures
G28: Financial Institutions and Services: Government Policy and Regulation
O23: Fiscal and Monetary Policy in Development


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