The federal design of a central bank in
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Sylvester C.W. Eijffinger
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Article
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2003
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John Wiley and Sons
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English
β 537 KB
## Abstract In this paper we analyse the ESCB as a federal central bank system. First, the degree of decentralization of the ESCB will be briefly compared with its predecessor, the Deutsche Bundesbank, and its counterweight in the US, the Federal Reserve System. Moreover, the development during the