Berk, J.M.

committee member decision policy board interest rates interest committee members skill voting change majority interaction meeting inflation board members result probability information term structure country structure position curve state lucas critique euro area paper figure decision rule model effect accuracy decision-making expectation non-board future quality non-board members voting rule 0.6 economy 0.7 information content price section 0.8 0.5 outcome policy meeting critique analysis interest rate decision more-skilled example equation level committee size subgroup european institute period group condition non-board committee members assumption pi 2n board meeting market choice policy committees decision b |c tinbergen strategy alternative activity number exchange decision b expertise