The Origins of Monetary Policy Disagreement: The Role of Supply and Demand Shocks

We investigate how dissent in the FOMC is affected by structural macroeconomic shocks obtained using a medium-scale DSGE model. We find that dissent is less (more) frequent when demand (supply) shocks are the predominant source of inflation fluctuations. In addition, supply shocks are found to raise...

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Veröffentlicht in:	The review of economics and statistics 2023-10, p.1-45
Hauptverfasser:	Madeira, Carlos, Madeira, João, Monteiro, Paulo Santos
Format:	Artikel
Sprache:	eng
Online-Zugang:	Volltext
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