Similar Search Results

Gauging the effectiveness of quantitative forward guidance: evidence from three inflation targeters

Andersson, Magnus; Hofmann, Boris - European Central Bank - 2009

This paper conducts a comparative analysis of the performances of the forward guidance strategies adopted by the Reserve Bank of New Zealand, the Norges Bank and the Riksbank, with the aim to gauge whether forward guidance via publication of an own interest rate path enhances a central bank’s...

Persistent link: https://www.econbiz.de/10008477228

The role of central bank transparency for guiding private sector forecasts

Ehrmann, Michael; Eijffinger, Sylvester; Fratzscher, Marcel - European Central Bank - 2010

finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …

Persistent link: https://www.econbiz.de/10008545908

Empirical assessment of Monetary Policy Instruments and Procedures (MPIP) in EU Countries.

Escriva, J.L.; Fagan, F.P. - European Central Bank - 1996

This paper provides empirical evidence on the use of monetary policy instruments and procedures (MPIP) in EU countries. In particular, it focuses on three important issues which arise in this context. Fist, we examine the structural position of the EU money markets. Second , evidence is...

Persistent link: https://www.econbiz.de/10005641237

The central bank as a risk manager: quantifying and forecasting inflation risks

Kilian, Lutz; Manganelli, Simone - European Central Bank - 2003

within pre-specified bounds. We develop formal tools of risk management that may be used to quantify and forecast the risks … forecast the risks of worldwide deflation for horizons of up to two years. Although recently fears of worldwide deflation have …

Persistent link: https://www.econbiz.de/10005530801

Geography or skills: What explains Fed watchers’ forecast accuracy of US monetary policy?

Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2006

The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a … novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 … financial market volatility after FOMC meetings. Finally, Fed communication may exert an influence on forecast accuracy. JEL …

Persistent link: https://www.econbiz.de/10005530863

Forecasting ECB monetary policy: accuracy is (still) a matter of geography

Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2006

countries, we find remarkable differences in forecast accuracy, and show that they are partly related to geography and …

Persistent link: https://www.econbiz.de/10005530894

ECB - Working paper series

European Central Bank

The ECB Working Paper Series seeks to disseminate economic research on issues that are relevant to the various tasks and functions of the ECB. The Series invites submissions of research work by ECB staff and visitors. Papers by researchers not affiliated with the ECB may also be considered for...

Persistent link: https://www.econbiz.de/10009635880

Central Bank communication and monetary policy: a survey of theory and evidence

Blinder, Alan S.; Ehrmann, Michael; de Haan, Jakob; … - European Central Bank - 2008

Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real-world developments have spawned a huge new scholarly literature on central bank communication —mostly empirical, and almost all of it written in this decade. We survey this...

Persistent link: https://www.econbiz.de/10005530856

The timing of central bank communication

Ehrmann, Michael; Fratzscher, Marcel - European Central Bank - 2005

This paper explores whether there are systematic patterns as to when members of the decision-making committees of the Federal Reserve, the Bank of England and the European Central Bank communicate with the public, and under what circumstances such communication has the ability to move financial...

Persistent link: https://www.econbiz.de/10005816134

DISAGREEMENT AMONG FORECASTERS IN G7 COUNTRIES

Dovern, Jonas; Fritsche, Ulrich; Slacalek, Jirka - European Central Bank - 2009

Using the Consensus Economics dataset with individual expertforecasts from G7 countries we investigate determinants of disagreement (crosssectionaldispersion of forecasts) about six key economic indicators. Disagreementabout real variables (GDP, consumption, investment and unemployment)has a...

Persistent link: https://www.econbiz.de/10005866467

1
2
3
4
5
6
7
8
9
10
Next
Last