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Monetary Policy Committees and Model Uncertainty
We introduce heterogeneity into a monetary policy committee by allowing the degree of model uncertainty to differ across members. It is shown that in this framework the stage at which members reach consensus matters. An aggregation protocol under which members only average policy deemed optimal from...
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| Published in: | MAGKS - Joint Discussion Paper Series in Economics (Band 21-2010) |
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| Main Author: | |
| Format: | Work |
| Language: | English |
| Published: |
Philipps-Universität Marburg
2010
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| Subjects: | |
| Online Access: | PDF Full Text |
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