Flexible Majority Rules for Central Banks

作者：Ger**ach Hans^*; Pachl Bernhard

来源：Journal of Money, Credit, and Banking, 2009, 41(2-3): 507-516.

DOI：10.1111/j.1538-4616.2009.00218.x

• D72
• E52
• E58
• F33
• central bank
• voting
• majority rule
• flexible majority rules

We propose a flexible majority rule for central-bank committees where the size of the majority depends monotonically on the change in interest rate within a particular time frame. Small changes in the interest rate require a small share, while larger changes require a larger share of supporting votes. We show that flexible majority rules are superior to simple majority rules.

• 出版日期2009-4