Central Banks

    Papers & Opinions

    Central banking | Electoral politics

    Information, Party Politics, and Public Support for Central Bank Independence

    Paper

    Posted on 15 May 2025

    By Ana Carolina Garriga

    Why do citizens support central bank independence (CBI)? Despite important research on economic and political reasons to grant independence to central banks, we know little about what the public thinks...
    READ MORE

    Central banking | Electoral politics | Political institutions

    Ideology and Monetary Policy

    Paper

    Posted on 25 May 2022

    By Nicolo Fraccaroli

    We investigate the link between ideology and the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the...
    READ MORE

    Central banking | Empirics | Political institutions

    Central Banks and Civil War Termination

    Paper

    Posted on 30 April 2022

    By Ana Carolina Garriga

    The ability to finance conflict likely affects the odds of sustaining a war and succeeding in it. Recent literature explores rebel group funding, but far less is known about how...
    READ MORE

    Banking | Central banking | Theory

    Monetary Policy with Reserves and CBDC: Optimality, Equivalence, and Politics

    Paper

    Posted on 11 August 2021

    By Dirk Niepelt

    We analyze the introduction of retail central bank digital currency (CBDC) into a two-tiered monetary system. Deposits, reserves, and CBDC differ in terms of operating costs and liquidity. We identify the optimal...
    READ MORE