The Making of Hawks and Doves: Inflation Experiences on the FOMC

We thank Michael McMahon, Ricordo Reis, David Robinson, Christina Romer, David Romer, Jeremy Stein, and workshop participants at the Bank of Finland, Harvard University, London School of Economics, Max Planck Institute for Research on Collective Goods, Stanford University, Stockholm School of Economics, Temple University, UC Berkeley, University of Bonn, University of Chicago, University of Michigan Economics Department and Law School, Vanderbilt University, as well as the NBER SI Monetary Economics meeting, Research in Behavioral Finance Conference 2016, and Annual Research Conference of the European Central Bank for helpful comments. Jonas Sobott, Marius Gunzel, Canyao Liu, Jeffrey Zeidel, and Albert Lee provided excellent research assistance. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.