Stable Money and Central Bank Independence: Implementing Monetary Institutions in Postwar Germany
Germany prides itself in having one of the most successful central banks and currencies with respect to independence and stability. I show that not only were both imposed on the country after 1945 but that there was also initial resistance to both among German experts and officials. This was then a...
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| Published in: | MAGKS - Joint Discussion Paper Series in Economics (Band 24-2019) |
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| Main Author: | |
| Format: | Article |
| Language: | English |
| Published: |
Philipps-Universität Marburg
2019
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| Subjects: | |
| Online Access: | PDF Full Text |
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| Summary: | Germany prides itself in having one of the most successful central banks and currencies with respect to independence and stability. I show that not only were both imposed on the country after 1945 but that there was also initial resistance to both among German experts and officials. This was then a rare case of successful imposition of institutions from abroad. Events are discussed in light of Peter Bernholz’s requirements for stable money and a successful central bank. |
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| Physical Description: | 32 Pages |
| ISSN: | 1867-3678 |
| DOI: | 10.17192/es2024.0619 |