Myrdal's works are usually analysed with a dual and separated point of view: on the one hand the methodological papers concerning the value problem and based on a strong non neutrality thesis; on the other part the theoretical analysis concerning monetary theory and policy, with a Wicksellian...

This study aims to explain the relationship between price and financial stability in monetary policy designs that have developed since the 1990s and to empirically examine the relationship between price and financial stability in the monetary policy designs of the US. To this effect, the study...

Although often applied in other social sciences, text mining has been less frequently used in economics and in policy circles, particularly inside central banks. This Handbook is a brief introduction to the field, discussing how text mining is useful for addressing research topics of interest to...

This study aims to explain the relationship between price and financial stability in monetary policy designs that have developed since the 1990s and to empirically examine the relationship between price and financial stability in the monetary policy designs of the US. To this effect, the study...

We review several existing text analysis methodologies and explain their formal application processes using the open-source software R and relevant packages. Several text mining applications to analyze central bank texts are presented

This is a survey on the recent game theoretic literature on committee decision making. We consider theoretical work on the role of (i) strategic voting, (ii) costly information acquisition, (iii) conflicting interests, and (iv) communication in committees. Moreover, we review recent experimental...

When optimal policymaking is subject to dynamic inconsistencies (Kydland and Prescott, 1977), but shocks hit the economy after private agents form expectations, there is a trade-off between the need to commit to a policy, and the need to retain discretion so as to respond to shocks. Rogoff...

How large should a monetary policy committee be? Which voting rule should a monetary policy committee adopt? This paper builds on Condorcet's jury threorem to analyse the relationships between committee size and voting rules in a model where policy discussions are subject to a time constraint....

How do monetary policy committee (MPC) members form their views about the appropriate interest rate? To what extent do they change their minds during the deliberations in the interest rate meeting? How important is the Chairman? The theoretical literature makes assumptions about these issues. We...

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...