analytically tractable model for monetary policy analysis which starts from decision-making in the monetary policy committee. Using … the model, I investigate the relationship between preference heterogeneity among the committee members and the optimal … structure of the monetary policy committee. The result shows that it is optimal in general cases to appoint not only inflation …

analytically tractable model for monetary policy analysis which starts from decision-making in the monetary policy committee. Using … the model, I investigate the relationship between preference heterogeneity among the committee members and the optimal … structure of the monetary policy committee. The result shows that it is optimal in general cases to appoint not only inflation …

of staff policy views, proxied by SREI, is negatively related to the size of the policy committee. Furthermore, the use … of staff policy views seems more pronounced if the committee is consensus-seeker and if the monetary regime is inflation …

of staff policy views, proxied by SREI, is negatively related to the size of the policy committee. Furthermore, the use … of staff policy views seems more pronounced if the committee is consensus-seeker and if the monetary regime is inflation …

coordination behavior among the members. I show that the existence of the coordination motive dismisses Condorcet's (1785 … decision-making environments can generate coordination motive among members …

technologies hinges on their content ("information" vs "entertainment"), their effectiveness in fostering coordination, and the …

technologies hinges on their content ("information" vs "entertainment"), their effectiveness in fostering coordination, and the …

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 … enhance policy outcomes. Under unanimity (consensus) it is preferable to limit the size of the committee. Finally …

Using a simple model of a coordination game, this paper explores how the information use of individuals affects an … optimal committee size. Although enlarging the committee promotes information aggregation, it also stimulates the members …’ coordination motive and distorts their voting behavior through higher-order beliefs. On the determination of a finite optimal …

other agents' actions, leading to coordination failure. We conducted a laboratory experiment to study the effects of public … information precision and strategic complementarity on coordination failure. Information precision is operationalized in terms of … likelihood of coordination failure and decreases coordination efficiency when public information is pessimistic about future …