ECB working paper studies MPC group size and voting rules
An ECB working paper published on May 13 attempts to answer core questions relating to committee size and voting rules for monetary policy setting.
Authors Vincent Maurin and Jean-Pierre Vidal ask how large monetary policy committees should be, and which voting rule they should adopt. The paper analyses the relationships between committee size and voting rules in a model where policy discussions are subject to a time constraint.
The research suggests that in large committees, majority voting is
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Monetary Policy
Ueda reaffirms BoJ’s exit from controlling long-term rates
Governor says surging bond yields are natural reflection of market expectations
Rates should stimulate economy in response to tariffs – study
Optimal monetary policy promotes employment and income, Minneapolis Fed paper argues
‘Trump slump’ hedges rise on rate cut fears
One dealer notes five-fold increase in number of clients hedging against possibility of faster easing
Pakistan pauses easing cycle after six consecutive rate cuts
Central bank says high core inflation could still drive up overall price levels, despite fall in headline figure
MNB to follow ‘disciplined, patient policy’ – new governor
In first speech since taking office, Varga says bank will closely monitor food and service inflation
Bank of Israel responds to criticism over high rates
Chair of parliamentary committee had blamed tight policy for lenders’ excess profits
Risk of inflation de-anchoring is higher in US than Canada – study
Authors say risk has also risen for both countries post-Covid
European Central Bank continues easing with 25bp cut
Revised forecast points to stunted growth, as Lagarde says bank is operating in “high uncertainty”