Please use this identifier to cite or link to this item:
http://dspace.mediu.edu.my:8181/xmlui/handle/10419/4070| Title: | Monetary policy committee size and inflation volatility |
| Keywords: | E31 E42 E58 ddc:330 Monetary Policy Committee Inflation Volatility Zentralbank Führungsorganisation Inflation Volatilität Welt |
| Issue Date: | 16-Oct-2013 |
| Publisher: | Kiel Institute for the World Economy (IfW) Kiel |
| Description: | Previous research on the optimal size of a monetary policy committee (MPC) focused on theoretical analyses and experimental studies. These studies suggest that the ideal monetary policy committee may not have many more than five members. In this paper we conduct an empirical cross-country study to explore whether there is a link between the size of an MPC and inflation volatility. The analysis for 75 countries which have adopted MPCs provides some support for the above suggestion: countries with less than five MPC members tend to have larger deviations from trend inflation than MPCs with five members; raising the number of MPC members above five does not contribute to a further reduction in volatility. |
| URI: | http://koha.mediu.edu.my:8181/xmlui/handle/10419/4070 |
| Other Identifiers: | http://hdl.handle.net/10419/4070 ppn:544082419 |
| Appears in Collections: | EconStor |
Files in This Item:
There are no files associated with this item.
Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.