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Understanding Interactions in Social Networks and Committees

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  • Arnab Bhattacharjee
  • Sean Holly

Abstract

While much of the literature on cross section dependence has fo?cused mainly on estimation of the regression coefficients in the under?lying model, estimation and inferences on the magnitude and strength of spill-overs and interactions has been largely ignored. At the same time, such inferences are important in many applications, not least because they have structural interpretations and provide useful inter?pretation and structural explanation for the strength of any interac?tions. In this paper we propose GMM methods designed to uncover underlying (hidden) interactions in social networks and committees. Special attention is paid to the interval censored regression model. Our methods are applied to a study of committee decision making within the Bank of England¡¯s monetary policy committee.

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Paper provided by Centre for Dynamic Macroeconomic Analysis in its series CDMA Working Paper Series with number 1004.

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Date of creation: Sep 2010
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Handle: RePEc:san:cdmawp:1004

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Keywords: Committee Decision Making; Social Networks; Cross Section and Spatial Interaction; Generalised Method of Moments; Censored Regression Model; Expectation-Maximisation Algorithm; Monetary Policy; Interest Rates.;

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Cited by:
  1. Bhattacharjee, Arnab & Holly, Sean, 2009. "Structural Interactions in Spatial Panels," SIRE Discussion Papers 2009-39, Scottish Institute for Research in Economics (SIRE).
  2. Bhattacharjee, Arnab & de Castro, Eduardo Anselmo & Marques, João Lourenço, 2011. "Spatial Interactions in Hedonic Pricing Models: The Urban Housing Market of Aveiro, Portugal," SIRE Discussion Papers 2011-45, Scottish Institute for Research in Economics (SIRE).
  3. Vincent Maurin & Jean-Pierre Vidal, 2012. "Monetary policy deliberations: Commitee size and votig rules," Working Paper Series 1434, European Central Bank.
  4. Arnab Bhattacharjee & Chris Jensen-Butler, 2011. "Estimation of the Spatial Weights Matrix under Structural Constraints," Dundee Discussion Papers in Economics 254, Economic Studies, University of Dundee.

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