ECB working paper studies MPC group size and voting rules

ecb-frankfurt

An ECB working paper published on May 13 attempts to answer core questions relating to committee size and voting rules for monetary policy setting.

Authors Vincent Maurin and Jean-Pierre Vidal ask how large monetary policy committees should be, and which voting rule they should adopt. The paper analyses the relationships between committee size and voting rules in a model where policy discussions are subject to a time constraint.

The research suggests that in large committees, majority voting is

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