A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members
We examine the dissent voting record of the Bank of England Monetary PolicyCommittee. Contrary to findings in the FOMC literature (for example Havrilesky andSchweitzer in The Political Economy of American Monetary Policy, pp. 197–210, 1990;Chappell et al. in Q. J. Econ. 108(1):185–218, 1993), the ef...
| Main Authors: | , , |
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| Format: | Journal Article |
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Springer New York LLC
2011
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| Online Access: | http://hdl.handle.net/20.500.11937/13285 |
| _version_ | 1848748306563334144 |
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| author | Harris, Mark Levine, P. Spencer, C. |
| author_facet | Harris, Mark Levine, P. Spencer, C. |
| author_sort | Harris, Mark |
| building | Curtin Institutional Repository |
| collection | Online Access |
| description | We examine the dissent voting record of the Bank of England Monetary PolicyCommittee. Contrary to findings in the FOMC literature (for example Havrilesky andSchweitzer in The Political Economy of American Monetary Policy, pp. 197–210, 1990;Chappell et al. in Q. J. Econ. 108(1):185–218, 1993), the effects of members’ career backgroundsand the political channel of appointment on voting behavior are negligible, reflectingthe distinct institutional constraints and incentives associated with UK monetarypolicy. Our findings also suggest that literature which characterizes voting behavior as beingpredominantly determined by members’ internal or external status is overly simplistic.This view is supported by econometric results appertaining to the introduction of memberspecificfixed-effects, which account for possible unobserved heterogeneity. |
| first_indexed | 2025-11-14T07:02:57Z |
| format | Journal Article |
| id | curtin-20.500.11937-13285 |
| institution | Curtin University Malaysia |
| institution_category | Local University |
| last_indexed | 2025-11-14T07:02:57Z |
| publishDate | 2011 |
| publisher | Springer New York LLC |
| recordtype | eprints |
| repository_type | Digital Repository |
| spelling | curtin-20.500.11937-132852017-02-28T01:33:33Z A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members Harris, Mark Levine, P. Spencer, C. appointment channels career background effects unobserved heterogeneity dissent voting Bank of England Monetary Policy Committee We examine the dissent voting record of the Bank of England Monetary PolicyCommittee. Contrary to findings in the FOMC literature (for example Havrilesky andSchweitzer in The Political Economy of American Monetary Policy, pp. 197–210, 1990;Chappell et al. in Q. J. Econ. 108(1):185–218, 1993), the effects of members’ career backgroundsand the political channel of appointment on voting behavior are negligible, reflectingthe distinct institutional constraints and incentives associated with UK monetarypolicy. Our findings also suggest that literature which characterizes voting behavior as beingpredominantly determined by members’ internal or external status is overly simplistic.This view is supported by econometric results appertaining to the introduction of memberspecificfixed-effects, which account for possible unobserved heterogeneity. 2011 Journal Article http://hdl.handle.net/20.500.11937/13285 Springer New York LLC restricted |
| spellingShingle | appointment channels career background effects unobserved heterogeneity dissent voting Bank of England Monetary Policy Committee Harris, Mark Levine, P. Spencer, C. A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members |
| title | A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members |
| title_full | A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members |
| title_fullStr | A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members |
| title_full_unstemmed | A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members |
| title_short | A decade of dissent: explaining the dissent voting behavior of Bank of England MPC members |
| title_sort | decade of dissent: explaining the dissent voting behavior of bank of england mpc members |
| topic | appointment channels career background effects unobserved heterogeneity dissent voting Bank of England Monetary Policy Committee |
| url | http://hdl.handle.net/20.500.11937/13285 |