Adaptation and central banking

AbstractWhat or who governs central bank decisions? Most considerations focus on motivations. Instead, we consider the extent to which specific behaviors have adaptive value in the context of central banking. From that perspective, poor decisions are not the product of poor motivations. They are, instead, a product of the poor institutions within which central bank decision makers operate.

Source: European Journal of Applied Physiology - April 1, 2019 Category: Physiology Source Type: research