Abstract
Abstract Economic experts are increasingly involved in European macroeconomic policymaking and their expertise in turn matters for economic outcomes. This fact is of particular significance with regard to the case of independent European central bankers, for monetary policy and beyond. This article presents new empirical data on who European central bankers are, and what kind of expertise they hold. It identifies patterns of expertise composition in the European Economic and Monetary Union (EMU) in longitudinal and cross-country comparison, thereby reflecting the ideational macroeconomic policy consensus of the EMU and its on first sight paradoxical – because of contradictory directions of fiscal and monetary policy – macroeconomic policy mix. The article infers two complementary logics – one of intergovernmental negotiations and another of imposed consolidation demands – by using a mixed-methods approach. It proposes these logics to leverage explanations for the resilience of EMU’s paradoxical macroecono...
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