The dissent voting behaviour of central bankers: what do we really know?

0399506 - NHU-C 2015 RIV GB eng J - Článek v odborném periodiku
Horváth, R. - Rusnák, M. - Šmídková, K. - Zápal, Jan
The dissent voting behaviour of central bankers: what do we really know?
Applied Economics. Roč. 46, č. 4 (2014), s. 450-461. ISSN 0003-6846. E-ISSN 1466-4283
Grant ostatní: UK(CZ) UNCE 204005/2012
Institucionální podpora: PRVOUK-P23
Klíčová slova: monetary policy * voting record * dissent
Kód oboru RIV: AH - Ekonomie
Impakt faktor: 0.613, rok: 2014

We examine the determinants of the dissent in central bank boards voting records about monetary policy rates in the Czech Republic, Hungary, Sweden, the UK and the US. In contrast to previous studies, we consider 25 different macroeconomic, financial, institutional, psychological or preference-related factors jointly and use Bayesian model averaging (BMA) to formally assess the attendant model uncertainty. We find that the rate of dissent is between 5% and 20% for the examined central banks.
Trvalý link: http://hdl.handle.net/11104/0227450