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Predicting Bank of England’s Asset Purchase Decisions with MPC Voting Records

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Author Info

  • Matthias Neuenkirch

    ()
    (University of Aachen)

Abstract

We use MPC voting records to predict changes in the volume of asset purchases. We find, first, that minority voting favoring an increase in the volume of asset purchases raises the probability of an actual increase at the next meeting. Second, minority voting supporting a higher Bank Rate decreases the likelihood of further asset purchases.

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File URL: http://www.uni-marburg.de/fb02/makro/forschung/magkspapers/22-2013_neuenkirch.pdf
File Function: First 201322
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Bibliographic Info

Paper provided by Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung) in its series MAGKS Papers on Economics with number 201322.

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Length: 9 pages
Date of creation: 2013
Date of revision:
Publication status: Forthcoming in
Handle: RePEc:mar:magkse:201322

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Related research

Keywords: Asset Purchases; Bank of England; Monetary Policy; Monetary Policy Committee; Predictability; Voting Records;

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Cited by:
  1. William Greene & Mark N Harris & Christopher Spencer, 2014. "Estimating the Standard Errors of Individual-Specific Parameters in Random Parameters Models," Discussion Paper Series 2014_01, Department of Economics, Loughborough University, revised Jan 2014.
  2. Pierre L. Siklos & Matthias Neuenkirch, 2014. "How Monetary Policy is made: Two Canadian Tales," CAMA Working Papers 2014-53, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
  3. William H.Greene & Max Gillman & Mark N. Harris & Christopher Spencer, 2013. "The Tempered Ordered Probit (TOP) model with an application to monetary policy," Discussion Paper Series 2013_10, Department of Economics, Loughborough University, revised Sep 2013.
  4. "Belderbos, Rene & Ikeuchi, Kenta & Fukao, Kyoji & Kim, Young Gak & Kwon, Hyeog Ug, 2013. "Plant Productivity Dynamics and Private and Public R&D Spillovers: Technological, Geographic and Relational Proximity," CEI Working Paper Series 2013-05, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.

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