Cookies?
Library Header Image
LSE Research Online LSE Library Services

From doves to hawks: a spatial analysis of voting in the Monetary Policy Committee of the Bank of England

Hix, Simon, Holyland, Bjorn and Vivyan, Nick (2010) From doves to hawks: a spatial analysis of voting in the Monetary Policy Committee of the Bank of England. European Journal of Political Research, 49 (6). pp. 731-758. ISSN 0304-4130

Full text not available from this repository.

Abstract

This article examines the making of monetary policy in the United Kingdom between 1997 and 2008 by analysing voting behaviour in the Bank of England's Monetary Policy Committee (MPC). It provides a new set of measures for the monetary policy preferences of individual MPC members by estimating a Bayesian item response model. The article demonstrates the usefulness of these measures by comparing the ideal points of outgoing MPC members with their successors and by looking at changes over time in the median ideal point on the MPC. The analysis indicates that the British Government has been able to move the position of the median voter on the MPC through its appointments to the Committee. This highlights the importance of central bank appointments for monetary policy.

Item Type: Article
Official URL: http://www.wiley.com/bw/journal.asp?ref=0304-4130
Additional Information: © 2010 The Authors
Library of Congress subject classification: H Social Sciences > HJ Public Finance
J Political Science > JC Political theory
Sets: Departments > Government
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Identification Number: UT ISI:000281851400002
Date Deposited: 19 Oct 2010 12:57
URL: http://eprints.lse.ac.uk/29565/

Actions (login required)

Record administration - authorised staff only Record administration - authorised staff only