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Crafting Consensus: Why Central Bankers Change their Speech and how Speech Changes the Economy

Baerg, Nicole (2020) Crafting Consensus: Why Central Bankers Change their Speech and how Speech Changes the Economy. Oxford University Press. ISBN 9780190499488

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Abstract

Crafting Consensus offers a new theory of committee decision making and provides a rich understanding of modern-day central banking by studying central banks’ communication with the public. Using extensive empirical analysis, Nicole Baerg explains how central bank transparency depends on the configuration of central bank committee members’ preferences and the institutional rules governing how committee members set policy. The book shows that monetary policy committees comprised of bankers with opposing inflation preferences communicate more precisely and that precise communication then has positive economic effects.

Item Type: Book
Uncontrolled Keywords: Central Banks, Political Institutions, Political Communications
Divisions: Faculty of Social Sciences > Government, Department of
Depositing User: Elements
Date Deposited: 05 Mar 2021 10:13
Last Modified: 05 Mar 2021 10:13
URI: http://repository.essex.ac.uk/id/eprint/30005

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