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This paper provides new empirical evidence on policy-makers' voting patterns on interest rates. Applying (pooled …) Taylor-type rules and using real-time information available from published inflation reports and voting records, the paper … tests for heterogeneity among committee members in three monetary policy committees: the FOMC, the Bank of England's MPC and …
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The modern Condorcet jury theorem states that under weak conditions, when voters have common interests, elections will aggregate information when the population is large, in any equilibrium. Here, we study the performance of large elections with population uncertainty. We find that the modern...
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