<?xml version="1.0" encoding="ISO-8859-1"?><article xmlns:mml="http://www.w3.org/1998/Math/MathML" xmlns:xlink="http://www.w3.org/1999/xlink" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance">
<front>
<journal-meta>
<journal-id>0124-5996</journal-id>
<journal-title><![CDATA[Revista de Economía Institucional]]></journal-title>
<abbrev-journal-title><![CDATA[Rev.econ.inst.]]></abbrev-journal-title>
<issn>0124-5996</issn>
<publisher>
<publisher-name><![CDATA[Universidad Externado de Colombia]]></publisher-name>
</publisher>
</journal-meta>
<article-meta>
<article-id>S0124-59962023000100029</article-id>
<article-id pub-id-type="doi">10.18601/01245996.v25n48.04</article-id>
<title-group>
<article-title xml:lang="es"><![CDATA[¿Instituciones del pueblo, por el pueblo y para el pueblo? Abordar el poder y la responsabilidad social de los bancos centrales en una democracia]]></article-title>
<article-title xml:lang="en"><![CDATA[The institutions of the people, by the people and for the people? Addressing central banks' power and social responsibility in a democracy]]></article-title>
<article-title xml:lang="pt"><![CDATA[Instituições do povo, pelo povo, para o povo? O poder e a responsabilidade social dos bancos centrais em uma democracia]]></article-title>
</title-group>
<contrib-group>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Rochon]]></surname>
<given-names><![CDATA[Louis-Philippe]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
<contrib contrib-type="author">
<name>
<surname><![CDATA[Vallett]]></surname>
<given-names><![CDATA[Guillaume]]></given-names>
</name>
<xref ref-type="aff" rid="Aff"/>
</contrib>
</contrib-group>
<aff id="Af1">
<institution><![CDATA[,Laurentian University  ]]></institution>
<addr-line><![CDATA[Toronto ]]></addr-line>
<country>Canada</country>
</aff>
<aff id="Af2">
<institution><![CDATA[,University of Grenoble Alpes  ]]></institution>
<addr-line><![CDATA[ ]]></addr-line>
<country>Francia</country>
</aff>
<pub-date pub-type="pub">
<day>00</day>
<month>06</month>
<year>2023</year>
</pub-date>
<pub-date pub-type="epub">
<day>00</day>
<month>06</month>
<year>2023</year>
</pub-date>
<volume>25</volume>
<numero>48</numero>
<fpage>29</fpage>
<lpage>59</lpage>
<copyright-statement/>
<copyright-year/>
<self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_arttext&amp;pid=S0124-59962023000100029&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_abstract&amp;pid=S0124-59962023000100029&amp;lng=en&amp;nrm=iso"></self-uri><self-uri xlink:href="http://www.scielo.org.co/scielo.php?script=sci_pdf&amp;pid=S0124-59962023000100029&amp;lng=en&amp;nrm=iso"></self-uri><abstract abstract-type="short" xml:lang="es"><p><![CDATA[Resumen Este artículo da luz sobre un tema olvidado en economía: la responsabilidad social de los bancos centrales en una democracia. Consideramos que los bancos centrales son instituciones de poder y, como tales, ni ellos ni sus políticas son neutrales, pues hay ganadores y perdedores inevitables. Explicamos por qué y cómo la sociedad debe regular y controlar su poder. Nos centramos en el carácter distributivo del ingreso de la política monetaria para demostrar esta afirmación, y mostramos que ha llegado la hora de construir un nuevo marco de banca central que mejore la responsabilidad social de los bancos centrales conforme al espíritu de un sistema democrático, que se base en nuevas reglas, nuevos tipos de organización interna y una ética de la responsabilidad de nuevo tipo. JEL: B55, E02, E12, E52, E58]]></p></abstract>
<abstract abstract-type="short" xml:lang="en"><p><![CDATA[Abstract This paper sheds light on an overlooked issue in economics, namely the social responsibility of central banks in a democracy. We consider central banks as institutions of power, and, as such, neither are they nor their policies neutral, in the sense that there are inevitable winners and losers. We explain why and how their power should be regulated and controlled by society. Specifically, we focus on the income distributive nature of monetary policy to demonstrate this assertion. From this, we explain that the time is ripe to build a new framework for central banking aiming at improving central banks' social responsibility consistent with the spirit of a democratic system, and resting on new rules, new types of inner organization and, more broadly, an ethics of responsibility of a new kind. JEL: B55, E02, E12, E52, E58]]></p></abstract>
<abstract abstract-type="short" xml:lang="pt"><p><![CDATA[Resumo Este artigo lança luz sobre uma questão negligenciada na economia, ou seja, a responsabilidade social dos bancos centrais em uma democracia. Consideramos que os bancos centrais são instituições de poder e, como tal, nem eles nem suas políticas são neutras, na medida em que há inevitáveis vencedores e perdedores. Explicamos por que e como a sociedade deve regular e controlar seu poder. Concentramo-nos no caráter distributivo da política monetária para demonstrar esta afirmação, e mostrar que chegou o momento de construir uma nova estrutura para o banco central que aumente a responsabilidade social dos bancos centrais no espírito de um sistema democrático, e que se se baseie em novas regras, novos tipos de organização interna e uma ética de responsabilidade de novo tipo. JEL: B55, E02, E12, E52, E58]]></p></abstract>
<kwd-group>
<kwd lng="es"><![CDATA[bancos centrales]]></kwd>
<kwd lng="es"><![CDATA[banqueros centrales]]></kwd>
<kwd lng="es"><![CDATA[poder]]></kwd>
<kwd lng="es"><![CDATA[responsabilidad social]]></kwd>
<kwd lng="es"><![CDATA[democracia]]></kwd>
<kwd lng="en"><![CDATA[central banks]]></kwd>
<kwd lng="en"><![CDATA[central bankers]]></kwd>
<kwd lng="en"><![CDATA[power]]></kwd>
<kwd lng="en"><![CDATA[social responsibility]]></kwd>
<kwd lng="en"><![CDATA[democracy]]></kwd>
<kwd lng="pt"><![CDATA[bancos centrais]]></kwd>
<kwd lng="pt"><![CDATA[banqueiros centrais]]></kwd>
<kwd lng="pt"><![CDATA[poder]]></kwd>
<kwd lng="pt"><![CDATA[responsabilidade social]]></kwd>
<kwd lng="pt"><![CDATA[democracia]]></kwd>
</kwd-group>
</article-meta>
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