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dc.contributor.authorChappell, H.W.
dc.contributor.authorGreene, William
dc.contributor.authorHarris, Mark
dc.contributor.authorSpencer, C.
dc.date.accessioned2021-11-17T04:45:21Z
dc.date.available2021-11-17T04:45:21Z
dc.date.issued2021
dc.identifier.citationChappell, H.W. and Greene, W. and Harris, M.N. and Spencer, C. 2021. Uncertainty and the Bank of England's MPC. Journal of Money, Credit and Banking.
dc.identifier.urihttp://hdl.handle.net/20.500.11937/86467
dc.identifier.doi10.1111/jmcb.12854
dc.description.abstract

We investigate how recently developed measures of uncertainty affect the voting behavior of individual Bank of England Monetary Policy Committee (MPC) members. To determine the precise impact of uncertainty on individual policymakers, we estimate the standard errors of member-specific parameters in a random parameters ordered probit framework. We find that uncertainty is typically associated with voting to ease the policy stance. The Bank of England's in-house uncertainty index plays a prominent role in driving voting behavior. Based on this measure, the MPC emerges as a diverse group of activist risk managers.

dc.languageEnglish
dc.publisherWILEY
dc.subjectSocial Sciences
dc.subjectBusiness, Finance
dc.subjectEconomics
dc.subjectBusiness & Economics
dc.subjectmonetary policy
dc.subjectrandom parameters
dc.subjectuncertainty
dc.subjectvoting
dc.subjectMONETARY-POLICY
dc.subjectOUTSIDERS
dc.subjectPOWER
dc.titleUncertainty and the Bank of England's MPC
dc.typeJournal Article
dcterms.source.issn0022-2879
dcterms.source.titleJournal of Money, Credit and Banking
dc.date.updated2021-11-17T04:45:21Z
curtin.departmentSchool of Accounting, Economics and Finance
curtin.accessStatusFulltext not available
curtin.facultyFaculty of Business and Law
curtin.contributor.orcidHarris, Mark [0000-0002-1804-4357]
curtin.contributor.researcheridHarris, Mark [O-5084-2015]
dcterms.source.eissn1538-4616
curtin.contributor.scopusauthoridHarris, Mark [35561581200] [55310794400]
curtin.contributor.scopusauthoridGreene, William [7202789151]


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