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Madeira, C., Madeira, J. & Santos Monteiro, P. (N/A). The origins of monetary policy disagreement: The role of supply and demand shocks. Review of Economics and Statistics. N/A

C. M. Madeira et al.,  "The origins of monetary policy disagreement: The role of supply and demand shocks", in Review of Economics and Statistics, vol. N/A, N/A

@article{madeiraN/A_1734888708265,
	author = "Madeira, C. and Madeira, J. and Santos Monteiro, P.",
	title = "The origins of monetary policy disagreement: The role of supply and demand shocks",
	journal = "Review of Economics and Statistics",
	year = "N/A",
	volume = "N/A",
	number = "",
	doi = "10.1162/rest_a_01383",
	url = "https://direct.mit.edu/rest/article-abstract/doi/10.1162/rest_a_01383/117903/The-Origins-of-Monetary-Policy-Disagreement-The?redirectedFrom=fulltext"
}

TY  - JOUR
TI  - The origins of monetary policy disagreement: The role of supply and demand shocks
T2  - Review of Economics and Statistics
VL  - N/A
AU  - Madeira, C.
AU  - Madeira, J.
AU  - Santos Monteiro, P.
PY  - N/A
SN  - 0034-6535
DO  - 10.1162/rest_a_01383
UR  - https://direct.mit.edu/rest/article-abstract/doi/10.1162/rest_a_01383/117903/The-Origins-of-Monetary-Policy-Disagreement-The?redirectedFrom=fulltext
AB  - We investigate how dissent in the FOMC is affected by structural macroeconomic shocks
obtained using a medium-scale DSGE model. We find that dissent is less (more) frequent when
demand (supply) shocks are the predominant source of inflation fluctuations. In addition, supply
shocks are found to raise private sector forecasting uncertainty about the path of interest rates.
Since supply shocks impose a trade-off between inflation and output stabilization while demand
shocks do not, our findings are consistent with heterogeneous preferences over the dual mandate
among FOMC members as a driver of policy disagreement.
ER  -