Crafting Consensus —— Why Central Bankers Change Their Speech and How Speech Changes the Economy

----- 构建共识：央行官员为何改变言论以及言论如何改变经济

ISBN: 9780190499488 出版年：2020 页码：218 Baerg, Nicole Oxford University Press

Crafting Consensus offers a new theory of committee decision making and provides a rich understanding of modern-day central banking by studying central banks' communication with the public. Using extensive empirical analysis, Nicole Baerg explains how central bank transparency depends on the configuration of central bank committee members' preferences and the institutional rules governing how committee members set policy. The book shows that monetary policy committees comprised of bankers with opposing inflation preferences communicate more precisely and that precise communication then has positive economic effects.