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Gender and monetary policy. Should central bank executive boards have more women?

Etc.

<i>On 16 February 2011 </i><a href="http://blogs.elpais.com/mujeres/2011/02/el-bce-es-cosa-de-hombres.html"><i>a blog of the Spanish journal </i>El Pais</a> <i>published that the only woman in the ECB executive board, the Austrian Gertrude Tumpel-Gugerell, will leave the institution in May 2011, substituted by the Belgian Peter Praet.</i>

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A quick revision of the high-level staffs in the main [Pagelink infos="Organisation for Economic Co-operation and Development|Organisation for Economic Co-operation and Development"] and Latin American central banks confirms that this unbalance composition in gender terms is the rule, not the exception. Only in [Pagelink infos="Gender Equality in Argentina|Gender Equality in Argentina"], [Pagelink infos="Gender Equality in Peru|Gender Equality in Peru"] or [Pagelink infos="Gender Equality in Sweden|Gender Equality in Sweden"] the female ratio is around one third, reaching the parity in the US Fed. By contrast, according to their webs, in some other well respected ones such as the [Pagelink infos="Bank of England|Bank of England"] or the [Pagelink infos="Central Bank of Gender Equality in Chile|Central Bank of Gender Equality in Chile"] women are not represented at all in their highest board.

<b>This naïve observation opens again the debate on female representation in high-level positions, now focused among those in charge of monetary policy.</b>

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<ul>
	<li>Is it just a cohort effect and gender representation will be balanced by market forces, or not? If it were the case, how long should we expect to wait?</li>
	<li>If markets are not ruling, is it just the effect of a self-selection mechanism (men may enjoy setting interest rates more than women, for instance), or a reflection of gender discrimination?</li>
	<li>And, which is the effect on the effectiveness of the central bank and on inflation?</li>
	<li>Finally, if we agree that there is a case for public policy action, which one should be pursued, [Pagelink infos="Quotas|quotas"]?</li>
</ul>
<b>The debate is open.</b>

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<h2>Table of Contents</h2>
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	<li class="toclevel-1"><a href="#w_reply-to-this-post-here"><span class="tocnumber">1</span> <span class="toctext">Reply to this post here</span></a></li>
	<li class="toclevel-1"><a href="#w_see-also"><span class="tocnumber">2</span> <span class="toctext">See also</span></a>
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	<li class="toclevel-2"><a href="#w_community-portal"><span class="tocnumber">2.1</span> <span class="toctext">Community Portal:</span></a></li>
	<li class="toclevel-2"><a href="#w_related-articles"><span class="tocnumber">2.2</span> <span class="toctext">Related articles:</span></a></li>
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	<li class="toclevel-1"><a href="#w_external-links"><span class="tocnumber">3</span> <span class="toctext">External Links</span></a></li>
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<h2 id="w_reply-to-this-post-here">Reply to this post here</h2>
<b>InesInProgress:</b> Before making a judgment, it is very important to go back to the origins of this lack of female representaion in bank boards or high level financial positions. If the reason is pure gender discrimination, then a quota system becomes crucial. Unfortunately, while similar systems are in a way or another based on discrimination themselves, they are an important tool of inclusion of vulnerable groups, women here. A quota system is also a very important empowerment tool economically, socially and even psychologically speaking. Yes, women need to be includded and to be a key economic contributor on a higher level. Yes, a society needs to reflect gender equality (being a very important sign of development). And, yes, giving women high level positions is very important for their self-confidence, self-esteem and their overcoming of the "vulnerable group" status.

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<h2 id="w_see-also">See also</h2>
<h3 id="w_community-portal">Community Portal:</h3>
<ul>
	<li>[Pagelink infos="Community Portal|Women, Leadership and Quotas"]</li>
</ul>
<h3 id="w_related-articles">Related articles:</h3>
<ul>
	<li>[Pagelink infos="Access to bank loans|Access to bank loans"]</li>
	<li>[Pagelink infos="Asian Development Bank|Asian Development Bank"]</li>
	<li>[Pagelink infos="World Bank|World Bank"]</li>
	<li>[Pagelink infos="Grameen Bank|Grameen Bank"]</li>
</ul>
<h2 id="w_external-links">External Links</h2>
<ul>
	<li><a href="http://www.ecb.int/ecb/orga/decisions/govc/html/index.en.html">European Central Bank</a></li>
	<li><a href="http://ec.europa.eu/social/BlobServlet?docId=4746&langId=en">More Women in Senior Positions: Key to Economic Stability and Growth - EC 2010 report</a></li>
	<li><a href="http://blogs.elpais.com/mujeres/2011/02/las-sherpas-del-g20.html">The women of the G20</a></li>
</ul>

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