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Coalitions, power, and the FOMC

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Author Info

  • Joseph G. Haubrich
  • Owen Humpage

Abstract

The authors apply a notion of power, defined for coalitions, which is derived from the Shapley value. They calculate the power of coalitions within a 12-person committee meant to correspond to the FOMC.

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File URL: http://www.clevelandfed.org/research/Workpaper/2001/wp0103.pdf
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Bibliographic Info

Paper provided by Federal Reserve Bank of Cleveland in its series Working Paper with number 0103.

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Date of creation: 2001
Date of revision:
Handle: RePEc:fip:fedcwp:0103

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Related research

Keywords: Federal Open Market Committee;

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  1. Harsanyi,John C., 1986. "Rational Behaviour and Bargaining Equilibrium in Games and Social Situations," Cambridge Books, Cambridge University Press, number 9780521311830, October.
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Cited by:
  1. Ansgar Belke & Barbara Schnurbein, 2012. "European monetary policy and the ECB rotation model," Public Choice, Springer, vol. 151(1), pages 289-323, April.

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