Central banking with many voices: the communications arms race

Around the world, most central banks set policy by committee. This is motivated in part by the idea that groups reach better decisions than individuals and in part by a desire for representation of different geographical areas and economic constituencies in policymaking. The Bank for International S...

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Autor principal:	Vissing-Jorgensen, Annette
Formato:	Artículo
Lenguaje:	English
Publicado:	Banco Central de Chile 2021
Materias:	BANCOS CENTRALES COMUNICACIÓN
Acceso en línea:	https://hdl.handle.net/20.500.12580/6137
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spelling	oai-20.500.12580-61372021-10-19T16:01:20Z Central banking with many voices: the communications arms race Vissing-Jorgensen, Annette BANCOS CENTRALES COMUNICACIÓN Around the world, most central banks set policy by committee. This is motivated in part by the idea that groups reach better decisions than individuals and in part by a desire for representation of different geographical areas and economic constituencies in policymaking. The Bank for International Settlements (2009) documents that across central banks, the median number of members on monetary policy boards is eight. The Federal Reserve and the European Central Bank (ECB) have substantially more decision-makers than the median, with 19 members of the Federal Open Market Committee (FOMC) (of which 12 vote at any given time) and 25 members of the ECB’s Governing Council (of which 21 vote at any given time). Around the world, most central banks set policy by committee. This is motivated in part by the idea that groups reach better decisions than individuals and in part by a desire for representation of different geographical areas and economic constituencies in policymaking. The Bank for International Settlements (2009) documents that across central banks, the median number of members on monetary policy boards is eight. The Federal Reserve and the European Central Bank (ECB) have substantially more decision-makers than the median, with 19 members of the Federal Open Market Committee (FOMC) (of which 12 vote at any given time) and 25 members of the ECB’s Governing Council (of which 21 vote at any given time). 2021-10-19T15:41:48Z 2021-10-19T15:41:48Z 2021-10 Artículo 978-956-7421-69-5 978-956-7421-70-1 (pdf) 0717-6686 https://hdl.handle.net/20.500.12580/6137 en Series on Central Banking Analysis and Economic Policies; no. 28 Serie Banca Central, análisis y políticas económicas; no. 28 Attribution-NonCommercial-NoDerivs 3.0 Chile http://creativecommons.org/licenses/by-nc-nd/3.0/cl/ .pdf Sección o Parte de un Documento p. 229-278 application/pdf Banco Central de Chile
institution	Banco Central
collection	Banco Central
language	English
topic	BANCOS CENTRALES COMUNICACIÓN
spellingShingle	BANCOS CENTRALES COMUNICACIÓN Vissing-Jorgensen, Annette Central banking with many voices: the communications arms race
description	Around the world, most central banks set policy by committee. This is motivated in part by the idea that groups reach better decisions than individuals and in part by a desire for representation of different geographical areas and economic constituencies in policymaking. The Bank for International Settlements (2009) documents that across central banks, the median number of members on monetary policy boards is eight. The Federal Reserve and the European Central Bank (ECB) have substantially more decision-makers than the median, with 19 members of the Federal Open Market Committee (FOMC) (of which 12 vote at any given time) and 25 members of the ECB’s Governing Council (of which 21 vote at any given time).
format	Artículo
author	Vissing-Jorgensen, Annette
author_facet	Vissing-Jorgensen, Annette
author_sort	Vissing-Jorgensen, Annette
title	Central banking with many voices: the communications arms race
title_short	Central banking with many voices: the communications arms race
title_full	Central banking with many voices: the communications arms race
title_fullStr	Central banking with many voices: the communications arms race
title_full_unstemmed	Central banking with many voices: the communications arms race
title_sort	central banking with many voices: the communications arms race
publisher	Banco Central de Chile
publishDate	2021
url	https://hdl.handle.net/20.500.12580/6137
work_keys_str_mv	AT vissingjorgensenannette centralbankingwithmanyvoicesthecommunicationsarmsrace
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Central banking with many voices: the communications arms race

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