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-crisis period, driven by the imperatives of necessity, the requirements increase its competitiveness in a global economy, integrated …
Persistent link: https://www.econbiz.de/10008829835
; decision making ; monetary policy …
Persistent link: https://www.econbiz.de/10003726092
This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is...
Persistent link: https://www.econbiz.de/10012777953
such as education, age, and, to a lesser extent, work experience are not important in understanding the FOMC decision … itself, and the influence of the Chair in shaping the decision-making process. The results are expected to have implications … policy) information that reaches them. This makes the monetary policy decision process less noisy and, thus, enhances those …
Persistent link: https://www.econbiz.de/10013005738
This paper develops a theoretical model of dynamic decision-making of a monetary policy committee with heterogeneous …
Persistent link: https://www.econbiz.de/10012991250
This paper investigates the monetary regime choice between a monetary union and a flexible exchange rate regime in a large open economy framework. The classical approach argues that a monetary union should be established between countries with positively correlated shocks so that the cost of the...
Persistent link: https://www.econbiz.de/10013241862
This paper analyzes empirically differences in the size of central bank boards across countries. Defining a board as the body that changes monetary instruments to achieve a specified target, we discuss the possible determinants of a board's size. The empirical relevance of these factors is...
Persistent link: https://www.econbiz.de/10012754018
strategy amid a collegial approach to decision-making, while the Bank of England is using a collegial communication strategy … and highly individualistic decision-making. The ECB has chosen a collegial approach both in its communication and in its …
Persistent link: https://www.econbiz.de/10013318552
This paper develops a simple model to examine conditions under which a monetary policymaking authority is tempted to follow the market. In doing so, we explore the implications of increased market-consensus on the practice of monetary policy and show that inefficiency in policymaking is most...
Persistent link: https://www.econbiz.de/10014072284
We investigate the implications for the setting of interest rates when monetary policy decisions are taken by a committee, in which a subset of members may meet prior to the voting in the committee and therefore has the possibility to reach consensus ex ante to vote unanimously ex post. We allow...
Persistent link: https://www.econbiz.de/10014076798