Central banking

    Papers & Opinions

    Central banking | Corporate finance | Political institutions

    (Why) Do Central Banks Care About Their Profits?

    Paper

    Posted on 1 July 2021

    By Martin Schmalz

    We document that central banks are significantly more likely to report slightly positive profits than slightly negative profits, especially amid greater political pressure, the public’s receptiveness to more extreme political...
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    Central banking | Political institutions | Theory

    The Euro as a Diverse Monetary Union

    Paper

    Posted on 21 May 2021

    By Oscar Soons

    We analyze the political economy causes and consequences of a monetary unification among countries with different institutional quality. Before a common currency countries with stronger institutions have more efficient public...
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