Hix, Simon; Hoyland, Bjorn; Vivyan, Nick - London School of Economics (LSE) - 2007
This paper examines the making of UK monetary policy between 1997 and 2007 using an analysis of voting behaviour in the Bank of England’s Monetary Policy Committee (MPC). We use a Bayesian method to estimate the interest rate policy preferences of the MPC members on a ‘dove-hawk’ scale....
