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Outsiders at the Bank of England's MPC

The monetary policy committee (MPC) of the Bank of England consists of five internal and four external members. We study the voting record and show that outsiders dissent more often than insiders and tend to prefer lower rates, especially during economic downturns. Moreover, dissents by outsiders help forecast future interest rate changes, in contrast to dissents by insiders. A model in which outsiders in contrast to insiders are "recession averse" and more uncertain regarding the appropriate level of interest rates replicates the observed voting pattern well..Printed journal

Ketersediaan

Call NumberLocationAvailable
PSB lt.dasar - Pascasarjana1
Penerbit The Ohio State University.,
Edisi -
Subjek Monetary policy
Interest rates
Central banks
Recessions
Voting
studies
ISBN/ISSN 222879
Klasifikasi -
Deskripsi Fisik -
Info Detail Spesifik -
Other Version/Related Tidak tersedia versi lain
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