Making Monetary Policy by Committee

被引:16
作者
Blinder, Alan S. [1 ]
机构
[1] Princeton Univ, Ctr Econ Policy Studies, Dept Econ, Princeton, NJ 08544 USA
关键词
UNANIMOUS JURY VERDICTS; INFORMATION AGGREGATION; FEDERAL-RESERVE; DEBATE; FOMC;
D O I
10.1111/j.1468-2362.2008.01229.x
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
This paper considers a number of design features of monetary policy committees (MPCs), including their size and composition, the degree of consensus for which they strive, the role of the committee chair, voting procedures, methods of appointment and communication techniques. Real-world MPCs vary substantially in all these respects and more. Based on the theoretical and empirical research to date, most of which is of very recent vintage, a tentative set of 'best practices' is proposed.
引用
收藏
页码:171 / 194
页数:24
相关论文
共 36 条
[1]  
[Anonymous], 1983, Groupthink: Psychological Studies of Policy Decisions and Fiascoes
[2]  
BERGER H, 2006, 06281 INT MON FUND
[3]  
BLINDER A, 2001, DO CENTRAL BANKS TAL, V3
[4]  
Blinder A.S., 2004, QUIET REVOLUTION CEN
[5]  
Blinder AS, 2008, INT J CENT BANK, V4, P117
[6]  
Blinder AlanS., 1998, CENTRAL BANKING THEO
[7]  
Blinder AlanS., 2007, European Journal of Political Economy, V23, P106
[8]   Are two heads better than one? Monetary policy by committee [J].
Blinder, AS ;
Morgan, J .
JOURNAL OF MONEY CREDIT AND BANKING, 2005, 37 (05) :789-811
[9]   Alice in Euroland [J].
Buiter, WH .
JOURNAL OF COMMON MARKET STUDIES, 1999, 37 (02) :181-209
[10]  
Chappell Henry.W., 2005, COMMITTEE DECISIONS