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Working Paper

Coalitions, Power, and the FOMC

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We apply a notion of power defined for coalitions derived from the Shapley value. We calculate the power of coalitions within a twelve-person committee, meant to correspond to the FOMC.
05.01.2001WP 01-03DOI 10.26509/frbc-wp-200103
Keywords monetary policy, committee, co-operative games
JEL Classification Codes E58, D71, C71
Suggested Citation

Haubrich, Joseph G., and Owen F. Humpage. 2001. “Coalitions, Power, and the FOMC.” Federal Reserve Bank of Cleveland, Working Paper No. 01-03. https://doi.org/10.26509/frbc-wp-200103