• Corpus ID: 42230193

Estimating Central Bank Preferences

@inproceedings{Berg2014EstimatingCB,
  title={Estimating Central Bank Preferences},
  author={Nicole Rae Berg and Will Lowe and Simone Paolo Ponzetto and Heiner Stuckenschmidt and C{\"a}cilia Zirn},
  year={2014}
}
Scholars often use Federal Open Market Committee (FOMC) votes to estimate the preferences of central bankers. However, rarely do people cast dissenting votes. As a result, voting records are not a random sample and using votes to measure prefer- ences may cause misleading measures and wrong substantive conclusions. Instead of using voting records, this article demonstrates the usefulness of using what central bankers say in FOMC meetings as a way to better measure central bank preferences… 
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