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The High-Frequency Response of the EUR-US Dollar Exchange Rate to ECB Monetary Policy Announcements
Conrad, Christian; Lamla, Michael J. - KOF Swiss Economic Institute, Department of Management, … - 2007
release. During the introductory statement, communication with respect to future price developments is most relevant and has …
Persistent link: https://www.econbiz.de/10005212634
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Agency and communication in IMF conditional lending: theory and empirical evidence
Marchesi, Silvia; Sabani, Laura; Dreher, Axel - KOF Swiss Economic Institute, Department of Management, … - 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/10005212636
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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 - KOF Swiss Economic Institute, Department of Management, … - 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/10004969854
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Does Money Matter in the ECB Strategy? New Evidence Based on ECB Communication
Berger, Helge; Haan, Jakob de; Sturm, Jan-Egbert - KOF Swiss Economic Institute, Department of Management, … - 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/10005731470