Determinants of the Size of a Monetary Policy Committee: Theory and Cross Country Evidence - Softcover

Vasquez, Jose L.; Erhart, Szilard

 
9783838334677: Determinants of the Size of a Monetary Policy Committee: Theory and Cross Country Evidence
Softcover
ISBN 10: 3838334671 ISBN 13: 9783838334677
Verlag: LAP Lambert Academic Publishing, 2010

Inhaltsangabe

Theoretical studies and empirical evidence suggest that an optimal committee consists of roughly 5-9 members, although this result may vary somewhat under specific circumstances. This paper develops a conceptual model for the case of a monetary policy committee (MPC). The main conclusions are that (i) MPC size varies according to the size of the monetary zone and overall economic stability; (ii) for large monetary zones (EMU, USA, Japan), MPC size is close to the estimated optimal level; and (iii) in several countries, MPC size is considerably misaligned. Our model is backed by econometric evidence using a 2006 survey for 85 countries, which is available on the Web for further research.

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Über die Autorin bzw. den Autor

Jose L. Vasquez is a Peruvian economist. He holds Master''s Degrees from The University of Michigan and The Institute for The World Economy (Kiel, Germany). Szilárd Erhart is a Hungarian economist, graduated from the Budapest Corvinus University, and the Institute for The World Economy (Kiel, Germany).

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Verlag
LAP Lambert Academic Publishing
Erscheinungsdatum
2010
Sprache
Englisch
ISBN 10 
3838334671
ISBN 13 
9783838334677
Einband
Taschenbuch
Anzahl der Seiten
60
Kontakt zum Hersteller
Nicht verfügbar
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