Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/336411 
Year of Publication: 
2024
Citation: 
[Journal:] Latin American Journal of Central Banking (LAJCB) [ISSN:] 2666-1438 [Volume:] 5 [Issue:] 4 [Article No.:] 100134 [Year:] 2024 [Pages:] 1-13
Publisher: 
Elsevier, Amsterdam
Abstract: 
This paper compiles a novel and unique dataset encompassing 439 individuals who served as board members on 16 different inflation-targeting central banks' monetary policy committees (MPCs) from 1999 to 2018. We document relevant trends over the past twenty years: (i) An increasing share of women serving on committees, albeit still a minority; (ii) an increase in the share of members with previous private sector experience and (iii) an increase in the average age and experience among members over time. Moreover, we find that: (i) A higher proportion of members with MBAs and Masters' in economics is related to lower levels of inflation; (ii) a committee with more members with formations not in economics or law tends to be more lenient towards the monetary policy target; (iii) the average MPC age within a range of 55 and 60 years seems to be linked to less volatile inflation; and (iv) more MPC women members correlates with both lower and less volatile inflation.
Subjects: 
Monetary policy committees
MPC
Policy-makers
JEL: 
E52
E58
E63
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Article

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