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Theoretical and empirical studies of different sciences suggest that an optimal committee consists of roughly 5-9 members, although it can swell mildly under specific circumstances. This paper develops a conceptual model in order to analyze the issue in case of monetary policy formulation. The...
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R&D investment spending exhibits a delayed and hump-shaped response to shocks. We show in a simple partial equilibrium model that rapidly adjusting R&D investment is costly if the probability of converting new hires into productive R&D workers ("onboarding") is decreasing in the number of new...
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Increasing the diversity of policy committees has taken center stage worldwide, but whether and why diverse committees … representation on the Federal Reserve's monetary policy committee, the FOMC, we test whether diversity affects how Fed information … for diversity can explain these patterns better than homophily. Our results suggest more diverse policy committees are …
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Increasing the diversity of policy committees has taken center stage worldwide, but whether and why diverse committees … representation on the Federal Reserve's monetary policy committee, the FOMC, we test whether diversity affects how Fed information … for diversity can explain these patterns better than homophily. Our results suggest more diverse policy committees are …
Persistent link: https://www.econbiz.de/10012668761