ECB paper identifies rate-setting heterogeneity among policymakers
A European Central Bank paper, published on Tuesday, provides new empirical evidence on policymakers' voting patterns on interest rates.
Alexander Jung, the paper's authors, use information provided from published inflation reports and voting records to test for heterogeneity among members in three monetary policy committees: the Federal Open Market Committee; the Bank of England's Monetary Policy Committee; and the Riksbank's executive board.
By separately estimating functions with and without
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