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Methodological Triangulation at the Bank of England:An Investigation

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Author Info
Paul Downward (Augusta State University)
Andrew Mearman () (School of Economics, University of the West of England)

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Abstract

This paper investigates the extent to which triangulation takes place within the Monetary Policy Committee (MPC) process at the Bank of England. Triangulation is at its most basic, the mixing of two or more methods, investigators, theories, methodologies or data in a single investigation. More specifically, we argue for triangulation as a commitment in research design to the mixing of methods in the act of inference. The paper argues that there are many motivations for triangulation as well as types of triangulation. It is argued that there is evidence of extensive triangulation of different types within the MPC process. However, there is very little theoretical triangulation present; raising concerns about pluralism. Also, it is argued that the triangulation which occurs is mainly undertaken for pragmatic reasons and does not reflect other, coherent ontological and epistemological positions.

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File URL: http://carecon.org.uk/DPs/0505.pdf
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File Function: First version, 2005
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Paper provided by University of the West of England, Department of Economics in its series Discussion Papers with number 0505.

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Date of creation: Aug 2005
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Handle: RePEc:uwe:wpaper:0505

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Web page: http://www.uwe.ac.uk/bbs/acad/econ/econ.shtml
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  1. Budd, Alan, 1998. "The Role and Operations of the Bank of England Monetary Policy Committee," Economic Journal, Royal Economic Society, vol. 108(451), pages 1783-94, November. [Downloadable!] (restricted)
  2. David Cobham, 2003. "Why does the Monetary Policy Committee smooth interest rates?," Oxford Economic Papers, Oxford University Press, vol. 55(3), pages 467-493, July.
  3. Richard Harrison & George Kapetanios & Tony Yates, 2004. "Forecasting with Measurement Errors in Dynamic Models," Working Papers 521, Queen Mary, University of London, Department of Economics. [Downloadable!]
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  4. Bean, Charles, 1998. "The New UK Monetary Arrangements: A View from the Literature," Economic Journal, Royal Economic Society, vol. 108(451), pages 1795-1809, November. [Downloadable!] (restricted)
  5. Andrew Mearman, 2004. "'Open-Systems' and Economic Methodology," Discussion Papers 0402, University of the West of England, Department of Economics. [Downloadable!]
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