Showing 1 - 10 of 17
The aim of this report, which has been prepared by a Task Force of the Monetary Policy Committee of the Eurosystem, is to describe and analyse the main developments in labour supply and its determinants in the euro area, review the links between labour supply and labour market institutions,...
Persistent link: https://www.econbiz.de/10005042600
The question how best to communicate monetary policy decisions remains a highly topical issue among central banks. Focusing on the experience of the European Central Bank, this paper studies how explanations of monetary policy decisions at press conferences are perceived by financial markets....
Persistent link: https://www.econbiz.de/10005344820
dollar. The findings suggest that communication hinting at a weakening of EMEs’ US dollar focus contributed substantially to … more cautious in their communication more recently. Overall, the results underscore the growing systemic importance of EMEs …
Persistent link: https://www.econbiz.de/10005344843
such communication has the ability to move financial markets. The findings suggest that communication is generally seen as … so prior to interest rate changes. At the same time, markets react more strongly to communication prior to policy changes …. Other instances where communication becomes more intense, or where financial markets become more responsive are also …
Persistent link: https://www.econbiz.de/10005816134
Despite substantial differences in monetary policy and communication strategies, many central banks share the practice … of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events … information precisely when it is sought after intensely. However, imposing such a limit to communication has often been justified …
Persistent link: https://www.econbiz.de/10005816165
The paper assesses the extent to which the Group of Seven (G7) has been successful in its management of major currencies since the 1970s. Using an event-study approach, the paper finds evidence that the G7 has been overall effective in moving the US dollar, yen and euro in the intended direction...
Persistent link: https://www.econbiz.de/10005816257
The paper analyses whether communication and actual interventions in FX markets are successful in moving exchange rates … evidence that communication and actual interventions tend to be successful in moving exchange rates in the desired direction …
Persistent link: https://www.econbiz.de/10005070384
. The paper finds that official communication, as reported by wire services, are effective in influencing the US dollar …
Persistent link: https://www.econbiz.de/10005070388
to revert to other types of Fed communication in the inter-meeting periods, and come to their own assessment of the …
Persistent link: https://www.econbiz.de/10005162886
The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …
Persistent link: https://www.econbiz.de/10005162925