The social sources of unelected power: how central banks became entrapped by infrastructural power and what this can tell us about how (not) to democratize them

Made to measure: how central banks deliver performances of their worth and why unconventional monetary policy is reversing the burden of proof

“…The need to formally institutionalize macro-prudential policy as a task for monetary policy and the de facto normalization of unconventional monetary policy have created considerable tensions in how the performance of monetary policy is being measured (Walter 2022). As what constitutes effective and efficient monetary policy has become more and more ambiguous, so has central banks' autonomous agency, premised on the performance of such efficacy, come under increasing stress.…”