Publication detail

Political Pressure on Central Banks: The Case of the Czech National Bank

Author(s): doc. PhDr. Adam Geršl Ph.D.,
Type: IES Working Papers
Year: 2006
Number: 8
ISSN / ISBN:
Published in: IES WP 2006/8
Publishing place: Prague
Keywords: political economy; monetary policy; pressure groups
JEL codes: E52, D78
Suggested Citation: Geršl, A. (2006). “ Political Pressure on Central Banks: The Case of the Czech National Bank ” IES Working Paper 8/2006, IES FSV. Charles University.
Abstract: As the independence of national central banks in the European Union is one of the main institutional features of the monetary constitution of the EU, the paper tries to find out whether central banks are factually independent in their decisions about interest rates if they face political pressure. The Havrilesky (1993) methodology of the political pressure on central banks is applied to the Czech National Bank, a central bank of one of the new EU Member States, in order to test whether the conducted monetary policy has been influenced by political pressure from various interest groups.
Downloadable: WP 2006_8 Gersl

Partners

Deloitte

Sponsors

CRIF
McKinsey
Patria Finance