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  • Open Daily: 10am - 10pm
    Alley-side Pickup: 10am - 7pm

    3038 Hennepin Ave Minneapolis, MN
    612-822-4611

Open Daily: 10am - 10pm | Alley-side Pickup: 10am - 7pm
3038 Hennepin Ave Minneapolis, MN
612-822-4611
Leadership in Groups: A Monetary Policy Experiment

Leadership in Groups: A Monetary Policy Experiment

Blinder, Alan S.
Morgan, John
International Journal of Central Banking

Paperback

General Political Science

ISBN10: 1249560101
ISBN13: 9781249560104
Publisher: Bibliogov
Published: Sep 27 2012
Pages: 38
Weight: 0.19
Height: 0.08 Width: 7.44 Depth: 9.69
Language: English
This paper studies monetary policy decision making by committee, using an experimental methodology. In an earlier paper (Blinder and Morgan 2005), we found that groups not only outperformed individuals, but they also took no longer to reach decisions. We successfully replicate those results here. Next, we find little difference between the performances of fourperson and eight-person groups; the larger groups outperform the smaller groups by a very small (and often insignificant) margin. Third, and most surprisingly, we find no evidence of superior performance by groups that have designated leaders. Possible reasons for that strongly counterintuitive finding are discussed.

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