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- Title
HOW COMMITTEES OF EXPERTS INTERACT WITH THE OUTSIDE WORLD: SOME THEORY, AND EVIDENCE FROM THE FOMC.
- Authors
Swank, Job; Swank, Otto H.; Visser, Bauke
- Abstract
Some committees are made up of experts, persons who care both about the matter at hand and about coming across as able decision makers. We show that such committees would like to conceal disagreement from the public. That is, once the decision has been reached, they show a united front to the outside world. Also, if such committees are required to become transparent. for example, by publishing verbatim transcripts of their meetings, members will organize premeetings away from the public eye. A large part of the article is dedicated to a case study of the U.S. Federal Open Market Committee in the United States. It provides suggestive evidence supporting our theory.
- Subjects
UNITED States; COMMITTEES; SPECIALISTS; UNITED States. Federal Open Market Committee; DECISION making
- Publication
Journal of the European Economic Association, 2008, Vol 6, Issue 2/3, p478
- ISSN
1542-4766
- Publication type
Article
- DOI
10.1162/JEEA.2008.6.2-3.478