The Effects of Learning in Interactive Monetary Policy Committees

Jan Marc Berk, Beata K. Bierut

Research output: Working paperProfessional

Abstract

We develop a theoretical framework for studying the effects of interaction on the quaJity of decision-making by monetary policy committees. We show that interaction, i.e. increasing one's expertise through an exchange of views, is most likely not to result in interdependent voting behaviour.Therefore, and in contrast to earlier literature, we find that interaction is beneficial for the collective outcome.
Original languageEnglish
Place of PublicationAmsterdam
PublisherTinbergen Instituut
Publication statusPublished - 2004

Publication series

NameDiscussion paper TI
No.04-029/2

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    Berk, J. M., & Bierut, B. K. (2004). The Effects of Learning in Interactive Monetary Policy Committees. (Discussion paper TI; No. 04-029/2). Amsterdam: Tinbergen Instituut.