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Selection and Incentive Effects of Elections : Evidence from State Supreme Courts

Ash, Elliott - 2016

Using data on state supreme court judges for the years 1947 through 1994, we find that judges selected by nonpartisan elections and judges selected by technocratic merit commissions produce higher-quality work than judges selected by partisan elections. Election-year pressure reduces work...

Persistent link: https://www.econbiz.de/10012996886

Mandatory Retirement for Judges Improved Performance on U.S. State Supreme Courts

Ash, Elliott; MacLeod, W. Bentley - 2022

Anecdotal evidence often points to aging as a cause for reduced work performance. This paper provides empirical evidence on this issue in a context where performance is measurable and there is variation in mandatory retirement policies: U.S. state supreme courts. We find that introducing...

Persistent link: https://www.econbiz.de/10014091105

The U.S. Constitution and Monetary Powers : An Analysis of the 1787 Constitutional Convention and Constitutional Transformation of the Nation'S Monetary System Emerged

Grubb, Farley Ward - 2021

The monetary powers embedded in the U.S. Constitution were revolutionary and led to a watershed transformation in the …

Persistent link: https://www.econbiz.de/10013240577

Central Banks : Evolution and Innovation in Historical Perspective

Bordo, Michael D. - 2017

Central banks have evolved for close to four centuries. This paper argues that for two centuries central banks caught up to the strategies followed by the leading central banks of the era; the Bank of England in the eighteenth and nineteenth centuries and the Federal Reserve in the twentieth...

Persistent link: https://www.econbiz.de/10012947026

The Empirics of Monetary Policy Rules in Open Economies

Clarida, Richard H. - 2021

This paper was prepared as a Keynote Address for the ESRC Conference on the Future of Macroeconomics held at the Bank of England Conference Center on April 14, 2000. It uses the empirical framework for formulating and estimating forward looking monetary policy rules developed in Clarida, Gali,...

Persistent link: https://www.econbiz.de/10013220781

Exchange Rate Dynamics with Sticky Prices : the Deutsch Mark, 1974-1982

Giovannini, Alberto; Rotemberg, Julio J. - 2021

like those which appear to be typical in Germany …

Persistent link: https://www.econbiz.de/10013220974

Rules, Discretion, and Central Bank Independence : The German Experience 1880-1989

eschweiler, Bernard; Bordo, Michael D. - 2021

best. Monetary policy in Germany during the past one hundred years provides an excellent case to assess the empirical … authority in 1876, Germany has participated in four monetary regimes: the pre-war gold standard, the inter-war gold standard … in Germany was always geared toward maintaining price stability with the exception of the two world war periods. Germany …

Persistent link: https://www.econbiz.de/10013224864

Activist Monetary Policy and Exchange Rate Overshooting : the Deutsche Mark/Dollar Rate

Papell, David H. - 2021

exchange rate overshooting to undershooting. Using constrained maximum likelihood methods, the model is estimated for Germany …

Persistent link: https://www.econbiz.de/10013234404

The Transmission Mechanism of Monetary Policy in Europe : Evidence from Banks' Balance Sheets

Favero, Carlo A.; Giavazzi, Francesco; Flabbi, Luca - 2021

implement a case-study on the response of banks in France, Germany, Italy and Spain to a monetary tightening. The episode we …

Persistent link: https://www.econbiz.de/10013235277

How the Bundesbank Conducts Monetary Policy

Clarida, Richard H.; Gertler, Mark - 2021

This paper analyzes German monetary policy in the post-Bretton Woods era. Despite the public focus on monetary targeting, in practice, German monetary policy involves the management of short term interest rates, as it does in the United States. Except during the mid to late 1970s, the Bundesbank...

Persistent link: https://www.econbiz.de/10013235581