Working Paper: CEPR ID: DP9602
Authors: Sylvester C. W. Eijffinger; Ronald J. Mahieu; Louis Raes
Abstract: This paper analyzes the voting records of four central banks (Sweden, Hungary, Poland and the Czech Republic) with spatial models of voting. We infer the policy preferences of the monetary policy committee members and use these to analyze the evolution in preferences over time and the differences in preferences between member types and the position of the Governor in different monetary policy committees.
Keywords: Central Banking; Ideal Points; Voting Records
JEL Codes: C11; E58; E59
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Voting records of central banks (E58) | Estimate policy preferences of monetary policy committee members (C54) |
| Chairman's preferences (D71) | Overall committee dynamics (D71) |
| Median preference of internal members at MNB (D79) | Median preference of external members (D79) |
| Chairman's position (G34) | Preferences of committee members (D71) |