Determinants of the Size of a Monetary Policy Committee

Jose L. Vasquez

ISBN 10: 3838334671 / ISBN 13: 9783838334677

Published by LAP LAMBERT Academic Publishing Dez 2009, 2009

About this Item

Neuware -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.Books on Demand GmbH, Überseering 33, 22297 Hamburg 60 pp. Englisch.

Seller Inventory # 9783838334677

Bibliographic Details

• Title: Determinants of the Size of a Monetary Policy Committee
• Publisher: LAP LAMBERT Academic Publishing Dez 2009
• Publication Date: 2009
• Language: English
• ISBN 10: 3838334671
• ISBN 13: 9783838334677
• Binding: Taschenbuch
• Condition: Neu
• Dimensions: 220W x 150H x 4D millimeters 220 millimeters width by 150 millimeters height by 4 millimeters depth
• Weight: 107 grams

About this title

Synopsis

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.