Current Scholarship
Central Banks

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Author: Jens van ’t Klooster

This chapter provides an overview of the state of the art in constitutional theory with regard to the topic of central banks. It challenges accounts of central bank independence as involving limited discretion and distributional choices, as well as the narrow range of normative questions that such accounts raise. It also provides a roadmap for a vast range of procedural and substantive issues raised by independent central banks.

This chapter is due to appear The Cambridge Handbook of Constitutional Theory (3 vols.), edited by Richard Bellamy and Jeff King for Cambridge University Press.

Jens van ‘t Klooster, “Central Banks,” OSF Preprints (September 12, 2020), doi:10.31219/, available at 

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