The effects of learning in interactive monetary policy committees

Jan Marc Berk; Beata K. Bierut

We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting behaviour.Therefore, and in contrast to earlier literature, we find that interaction is beneficial for the collective outcome.

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Year of publication:	2004
Authors:	Berk, Jan Marc ; Bierut, Beata K.
Publisher:	Rotterdam [u.a.] : Tinbergen Inst.
Subject:	Monetary policy \| interest rates \| learning \| Geldpolitik \| Lernprozess \| Learning process \| Zinspolitik \| Interest rate policy \| Zentralbank \| Central bank \| Zins \| Interest rate \| Gruppenentscheidung \| Group decision-making

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Extent:	Online-Ressource (29 S.) graph. Darst.
Series:	Discussion paper / Tinbergen Institute. - Rotterdam [u.a.] : [Verlag nicht ermittelbar], ISSN 0929-0834, ZDB-ID 2435783-2. - Vol. 2004,029
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Notes:	Systemvoraussetzungen: Acrobat Reader
Other identifiers:	hdl:10419/86361 [Handle]
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies ; D83 - Search, Learning, Information and Knowledge ; D71 - Social Choice; Clubs; Committees; Associations
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011334835