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When Are Monetary Policy Preferences Egocentric? Evidence from American Surveys and an Experiment.
- Source :
-
American Journal of Political Science (John Wiley & Sons, Inc.) . Jan2017, Vol. 61 Issue 1, p178-193. 16p. 7 Charts. - Publication Year :
- 2017
-
Abstract
- This article enters the international/comparative political economy debate about whether individual-level macroeconomic policy preferences are egocentric and, if so, on what basis (factors, sectors, or firms). It argues that contextual information may function as a precondition for the emergence of egocentric preferences. With a focus on the trade-off between using monetary policy for a domestic or an international goal, it presents evidence from three original American surveys using informative vignettes to show how monetary policy preferences exhibit firm-based egocentric variation: Individuals whose employer does most of its business in overseas markets have a lesser preference for domestic monetary autonomy. It also presents evidence from a survey experiment to show how the strength of this egocentric relationship depends on the informative power of the vignette: A more contextually informative vignette produces a stronger relationship between overseas business activity and a preference against domestic monetary autonomy. [ABSTRACT FROM AUTHOR]
- Subjects :
- *MONETARY policy
*EGOCENTRIC bias
*U.S. dollar
*EXPORTS
*INTEREST rates
Subjects
Details
- Language :
- English
- ISSN :
- 00925853
- Volume :
- 61
- Issue :
- 1
- Database :
- Academic Search Index
- Journal :
- American Journal of Political Science (John Wiley & Sons, Inc.)
- Publication Type :
- Academic Journal
- Accession number :
- 120747346
- Full Text :
- https://doi.org/10.1111/ajps.12203