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
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."
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