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Does Central Bank Communication really Lead to better Forecasts of Policy Decisions? New Evidence Based on a Taylor Rule Model for the ECB
Sturm, Jan-Egbert; Haan, Jakob de - CESifo - 2009
central bank actions. We examine whether communication by the European Central Bank (ECB) adds information compared to the … ECB communication that are all based on the ECB President’s introductory statement at the press conference following an … included in our Taylor rule model, the ECB communication indicators remain significant. …
Persistent link: https://www.econbiz.de/10005013956
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The Role of Salience in Performance Schemes: Evidence from a Field Experiment
Englmaier, Florian; Roider, Andreas; Sunde, Uwe - CESifo - 2012
in quantity and quality of output. We use data from a controlled field experiment that changed the communication of the …
Persistent link: https://www.econbiz.de/10010539149
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Information Transmission within Federal Fiscal Architectures: Theory and Evidence
Dreher, Axel; Gehring, Kai; Kotsogiannis, Christos; … - CESifo - 2013
of unverifiable information and the quality of communication depends on the conflict of interests between the government …
Persistent link: https://www.econbiz.de/10010693469
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Information Transmission and Ownership Consolidation in Aid Programs
Dreher, Axel; Marchesi, Silvia - CESifo - 2013
This paper explores the role of information transmission in explaining donors’ choice between project aid and budget support. Budget support increases the involvement of recipient governments in the decision-making process and can thus be an example of a “delegation-scheme.” Conversely,...
Persistent link: https://www.econbiz.de/10010701088
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Read my Lips: the Role of Information Transmission in multilateral reform design
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - Dipartimento di Economia, Management e Metodi … - 2009
We focus on the role that the transmission of information between a multilateral (e.g., the IMF) and a country has for optimal (conditional) reform design. The main result is that the informational advantage of the country must be strictly greater than the advantage of the multilateral in order...
Persistent link: https://www.econbiz.de/10004982766
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Agency and Communication in IMF Conditional Lending: Theory and Empirical Evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - CESifo - 2009
We focus on the role that the transmission of information between a multilateral (the IMF) and a country has for the optimal design of conditional reforms. Our model predicts that when agency problems are especially severe, and/or IMF information is valuable, a centralized control is indeed...
Persistent link: https://www.econbiz.de/10005051565
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Long Persuasion Games
Forges, Francoise; Koessler, Frédéric - CESifo - 2006
This paper characterizes geometrically the set of all Nash equilibrium payoffs achievable with unmediated communication …
Persistent link: https://www.econbiz.de/10005181479
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Does Money Matter in the ECB Strategy? New Evidence Based on ECB Communication
Berger, Helge; Sturm, Jan-Egbert - CESifo - 2006
We examine the role of money in the policies of the ECB, using introductory statements of the ECB President at the monthly press conferences during 1999-2004. Over time, the relative amount of words devoted to the monetary analysis has decreased. Our analysis of indicators of the monetary policy...
Persistent link: https://www.econbiz.de/10005406390
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Information Transmission within Federal Fiscal Architectures: Theory and Evidence
Dreher, Axel; Gehring, Kai; Kotsogiannis, Christos; … - Dipartimento di Economia, Management e Metodi … - 2013
’ consists of unverifiable information and the quality of communication depends on the conflict of interests between the …
Persistent link: https://www.econbiz.de/10010734630
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Information Transmission and Ownership Consolidation in Aid Programs
Dreher, Axel; Marchesi, Silvia - Dipartimento di Economia, Management e Metodi … - 2013
This paper explores the role of information transmission in explaining donors\' choice between project aid and budget support. Budget support increases the involvement of recipient governments in the decision-making process and can thus be an example of a “delegation-scheme\". Conversely,...
Persistent link: https://www.econbiz.de/10010734632