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Committee Decisions on Monetary Policy: Evidence from Historical Records of the Federal Open Market Committee (The MIT Press) by Chappell Jr., Henry W., Chappell Jr., Henry W., Vermilyea, Todd, Rob Roy McGregor, Todd Vermilyea is a book available to read on EtoBox.

What is Committee Decisions on Monetary Policy: Evidence from Historical Records of the Federal Open Market Committee (The MIT Press) about?

An examination of how the policy preferences of individual members of the Federal Open Market Committee are translated into monetary policy decisions.In many countries, monetary policy decisions are made by committees. In the United States, these decisions are made by the Federal Reserve's Federal Open Market Committee (FOMC), which consists of the seven members of the Board of Governors and the presidents of the twelve district banks. This book examines the process by which the preferences of the FOMC's individual members are translated into collective policy choices. This focus on the aggregation of individual preferences into group decisions is unique and provides an important perspective on the evolution of monetary policy choices.To study decision making by the FOMC, the authors have used both formal voting records and detailed transcripts and summaries of deliberations contained in the committee's Memoranda of Discussion and FOMC Transcripts. The latter sources have been used to construct data sets describing individual committee members'policy preferences for the 1970-1978 and 1987-1996 periods when the FOMC was chaired by Arthur Burns and Alan Greenspan, respectively. These

Author

Chappell Jr., Henry W., Chappell Jr., Henry W., Vermilyea, Todd, Rob Roy McGregor, Todd Vermilyea

Publisher

The MIT Press

Published

2005

Language

EN

ISBN

9780262270168

Subjects

History, Economics, Finance