Article ID Journal Published Year Pages File Type
7351750 European Journal of Political Economy 2018 14 Pages PDF
Abstract
Many central banks now publish transcripts or summaries of meeting discussions and record policy preferences of individual members of policymaking committees. We present an econometric model of committee decisions for Sweden's Riksbank that uses individual preference data pooled over committee members and meetings. Estimates indicate that members attach a small weight to their own preferences when voting; instead, members tend to defer to the perceived committee consensus. These results contrast with some previous findings that members deferred to the committee chairman when voting.
Related Topics
Social Sciences and Humanities Economics, Econometrics and Finance Economics and Econometrics
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