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Monetary Committee Size and Special Interest Influence
Colla De Robertis, Esteban - Centro de Estudios Monetarios Latinoamericanos (CEMLA) - 2010
inflation rate and output are an average of the ones preferred by the committee and the special interest groups; thus, size of a …). The reason is that special interest group’s weights on equilibrium inflation rate under influence is lower the higher the … stable inflation rate will appoint a larger committee; ii) larger committees deliver lower and more stable inflation rates. …
Persistent link: https://www.econbiz.de/10011279221
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Monetary Policy and the Rule of Law
Eijffinger, Sylvester C W; Stadhouders, Patrick - C.E.P.R. Discussion Papers - 2003
extension of the existing empirical research about the relationship between inflation and the institutional design of monetary … the rate of inflation, central bank reforms and the transition process. Legal Transition Indicators will be used as proxy …
Persistent link: https://www.econbiz.de/10005497964
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Resolving the Capital Scarcity in Nigeria
Teriba, Ayo - 2007
Nigerian businesses, federal and state governments alike have historically tended to look abroad to fund large projects. Facts on the outstanding values of bonds, loans and equity confirm that Nigerian capital markets are thin, compared with the sub-Saharan African average; some segments have...
Persistent link: https://www.econbiz.de/10012730349
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Myths About Naira Notes and Coins in Nigeria
Teriba, Ayo - 2007
This piece addresses eight myths about Naira notes and coins. Namely:(i). Retailers round-up prices because of greed. (ii). Note-handling habits of 'market people' deface and mutilate Naira notes. (iii). Commercial banks are not doing enough to sort unfit notes. (iv). Larger denominations will...
Persistent link: https://www.econbiz.de/10012730350
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Transparency and deliberation within the FOMC: A computational linguistics approach
Hansen, Stephen Eliot; McMahon, Michael; Prat, Andrea - Department of Economics and Business, Universitat … - 2014
How does transparency, a key feature of central bank design, affect the deliberation of monetary policymakers? We exploit a natural experiment in the Federal Open Market Committee in 1993 together with computational linguistic models (particularly Latent Dirichlet Allocation) to measure the...
Persistent link: https://www.econbiz.de/10010849619
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How Expoerts Decide: Preferences or Private Assessments on a Monetary Policy Committee?
Hansen, Stephen; McMahon, Michael; Rivera, Carlos Velasco - CESifo - 2013
Using voting data from the Bank of England, we show that different individual assessments of the economy strongly influence votes after controlling for individual policy preferences. We estimate that internal members form more precise assessments than externals and are also more hawkish, though...
Persistent link: https://www.econbiz.de/10010877935
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Forward Guidance or Cacophony
Demiray, Gamze; Onder, Yasin Kursat; Unalmis, Ibrahim - Türkiye Cumhuriyet Merkez Bankası - 2014
Until about more than a decade ago, central banks were traditionally run by individual governors. However that trend has changed and countries have started to establish monetary policy committees. Potential disadvantage of an individualistic committee (i.e., through voting) over collegial...
Persistent link: https://www.econbiz.de/10010941495
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Central-Bank Independence, Economic Behavior, and Optimal Term Lengths: Comment
Lin, Xiang - In: American Economic Review 89 (1999) 4, pp. 1056-1062
Persistent link: https://www.econbiz.de/10005241681
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Implications of EMU enlargement for European monetary policy: A political economy view
Maier, Philipp; Hendrikx, Maarten - EconWPA - 2002
Persistent link: https://www.econbiz.de/10005076692
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On the performance of Monetary Policy Committees
Farvaque, Etienne; Stanek, Piotr Leszek; Vigeant, Stéphane - Narodowy Bank Polski - 2013
performance in managing inflation and output volatility. Our sample covers major OECD countries in the 1999 to 2010 period. Using …
Persistent link: https://www.econbiz.de/10010667396