Welcome to the Chair of International Macroeconomics

Professorin Dr. Lena Dräger - Professorin Dr. Beatrice Weder di Mauro

Mitteilungen des Lehrstuhls / Information of the Chair:

NEW VoxEU article
VoxEU Article

No smoking gun: Private shareholders, governance rules, and central bank financial behaviour

Bernhard Bartels, Barry Eichengreen, Beatrice Weder di Mauro

14 November 2016

Recent events have heightened concerns that central banks with private shareholders might differ in their financial behaviour from purely public central banks, perhaps focusing excessively on profits, dividends, and risks to their balance sheets. Using information on shareholding and new data on governance rules for 35 central banks, this column finds no significant difference in financial behaviour based on ownership, due, it would appear, to governance arrangements restraining policy toward private shareholders and, more generally, affecting central bank behaviour.

(link at VoxEU)

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