Disagreement, Regional Representation, and Federal Reserve Transcript Publication

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Disagreement, Regional Representation, and Federal Reserve Transcript Publication

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dc.contributor.author Meade, Ellen E.
dc.date.accessioned 2009-02-20T21:12:55Z
dc.date.available 2009-02-20T21:12:55Z
dc.date.created 2007-10
dc.date.issued 2007-10
dc.identifier.uri http://hdl.handle.net/1961/5003
dc.description Working Paper No. 2007-21. 13 pages. en
dc.description.abstract This short paper looks at disagreement within the Federal Reserve's monetary policy committee, the Federal Open Market Committee or FOMC, following a change in transparency practices taken in 1993 to publish verbatim transcripts of FOMC meetings. Other literature has examined the effects of opening the FOMC's deliberations to public view, and provided empirical evidence that the publication of transcripts made policymakers less willing to voice disagreement with the chair-man's policy proposal. This paper adds to that work by examining whether regional variables are important to the analysis and whether the transcription effects change when regional variables are included in the estimation. The results suggest that regional effects, as represented by the voting share of each Federal Reserve district, are important in explaining disagreements voiced during FOMC deliberations and do not diminish transcription effects. en
dc.description.sponsorship Department of Economics, American University en
dc.language.iso en_US en
dc.publisher Department of Economics, American University en
dc.rights Copyright © 2007 by Ellen E. Meade. All rights reserved. Readers may make verbatim copies of this document for non-commercial purposes by any means, provided that this copyright notice appears on all such copies. en
dc.subject.other central banking en
dc.subject.other monetary policy en
dc.subject.other transparency en
dc.title Disagreement, Regional Representation, and Federal Reserve Transcript Publication en
dc.type Working Paper en


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