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 (MPe.
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.
General
Imprint: |
Lap Lambert Academic Publishing
|
Country of origin: |
Germany |
Release date: |
June 2010 |
First published: |
June 2010 |
Authors: |
Jose L. Vasquez
• Szilard Erhart
|
Dimensions: |
229 x 152 x 4mm (L x W x T) |
Format: |
Paperback - Trade
|
Pages: |
60 |
ISBN-13: |
978-3-8383-3467-7 |
Categories: |
Books >
Business & Economics >
Economics >
General
|
LSN: |
3-8383-3467-1 |
Barcode: |
9783838334677 |
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