Predicting Committee Action
Success of a policy often requires both that a good policy be adopted, and that the public or firms correctly anticipate what policy government will adopt. This paper models a relation between committee size and the effectiveness of policy, with a focus on how the accuracy of the public’s expectations varies with the size of the governmental committee setting policy. The paper also argues that the demand for access by special interest groups may arise not from a desire to influence policy, but from a desire to learn about government’s likely actions.
|Date of creation:||Feb 2006|
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Working Paper Series
0256, European Central Bank.
- Gerling, Kerstin & Gruner, Hans Peter & Kiel, Alexandra & Schulte, Elisabeth, 2005. "Information acquisition and decision making in committees: A survey," European Journal of Political Economy, Elsevier, vol. 21(3), pages 563-597, September.
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- Michael Ehrmann & Marcel Fratzscher, 2007. "Communication by Central Bank Committee Members: Different Strategies, Same Effectiveness?," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 39(2-3), pages 509-541, 03.
- Ehrmann, Michael & Fratzscher, Marcel, 2005. "Communication and decision-making by central bank committees: different strategies, same effectiveness?," Working Paper Series 0488, European Central Bank.
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