Policy-making of the European Central Bank during the crisis: Do personalities matter?

Roland A, Basham J (2014) IPE Working Paper; 38.
Berlin: Berlin School of Economics and Law. Institute for International Political Economy.

Diskussionspapier | Veröffentlicht | Englisch
 
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Autor*in
Roland, AanorUniBi ; Basham, James
Abstract / Bemerkung
The European sovereign debt crisis represents an interesting opportunity to investigate the reaction of the European Central Bank as a crisis fighting institution and the importance of central bank personalities in policy execution. Accordingly, this paper aims at investigating to what extent the policy-making of the ECB during the crisis has been influenced by Trichet’s and Draghi’s different personalities. Based on Friedman’s hypothesis that “accidents of personality” have a great impact on the functioning of a rulebased institution, we find that the clear differences in policy-making between Trichet and Draghi can be explained by specific features of their respective personalities. Institutions matter, but so do personalities.
Stichworte
European Central Bank; Central Bankers; Personality Theory; European Sovereign Debt Crisis; Monetary Policy
Erscheinungsjahr
2014
Band
38
ISSN
1869-6406
Page URI
https://pub.uni-bielefeld.de/record/2931607

Zitieren

Roland A, Basham J. Policy-making of the European Central Bank during the crisis: Do personalities matter?. IPE Working Paper. Vol 38. Berlin: Berlin School of Economics and Law. Institute for International Political Economy; 2014.
Roland, A., & Basham, J. (2014). Policy-making of the European Central Bank during the crisis: Do personalities matter? (IPE Working Paper, 38). Berlin: Berlin School of Economics and Law. Institute for International Political Economy.
Roland, A., and Basham, J. (2014). Policy-making of the European Central Bank during the crisis: Do personalities matter? IPE Working Paper, 38, Berlin: Berlin School of Economics and Law. Institute for International Political Economy.
Roland, A., & Basham, J., 2014. Policy-making of the European Central Bank during the crisis: Do personalities matter?, IPE Working Paper, no.38, Berlin: Berlin School of Economics and Law. Institute for International Political Economy.
A. Roland and J. Basham, Policy-making of the European Central Bank during the crisis: Do personalities matter?, IPE Working Paper, vol. 38, Berlin: Berlin School of Economics and Law. Institute for International Political Economy, 2014.
Roland, A., Basham, J.: Policy-making of the European Central Bank during the crisis: Do personalities matter? IPE Working Paper, 38. Berlin School of Economics and Law. Institute for International Political Economy, Berlin (2014).
Roland, Aanor, and Basham, James. Policy-making of the European Central Bank during the crisis: Do personalities matter?. Berlin: Berlin School of Economics and Law. Institute for International Political Economy, 2014. IPE Working Paper. 38.
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