Footnote:
Literaturverz. S. 28 - 29
Internetausg.: ftp://129.187.96.124/CESifo_WP/422.pdf
Description:
What is the optimal institutional structure for an independent central bank? The paper shows when it will be optimal for a country to have a central bank to be organized according to federal, purely national or a combination of both aspects. The analysis is then extended to a supranational monetary union and it is shown which organizational structure of a common central bank is optimal for participating countries and when they are willing to join. The implications for an enlargement of a monetary union are derived as well.