Despite the recent trend towards greater transparency of monetary policy, in many respects mystique still prevails in … assumption of imperfect common knowledge about the degree of central bank transparency, economic outcomes are affected by both … the actual and perceived degree of transparency. It is shown that actual transparency is beneficial while it may be useful …

Despite the recent trend towards greater transparency of monetary policy, in many respects mystique still prevails in … assumption of imperfect common knowledge about the degree of central bank transparency, economic outcomes are affected by both … the actual and perceived degree of transparency. It is shown that actual transparency is beneficial while it may be useful …

predictability of return volatility at longer horizons. This paper investigates the predictability of return volatility of the German … predictability and assumed volatility models. In Monte Carlo simulatiost is compared with two alternative model-free test procedures …

predictability of return volatility at longer horizons. This paper investigates the predictability of return volatility of the German … predictability and assumed volatility models. In Monte Carlo simulatiost is compared with two alternative model-free test procedures …

This paper analyses the effectiveness of foreign exchange interventions in Croatia, the Czech Republic, Hungary … when they ease appreciation pressures. Central bank communication and interest rate steps considerably enhance their … effectiveness. The observed effect of interventions on the exchange rate corresponds to the declared objectives of the central banks …

This paper analyses the effectiveness of foreign exchange interventions in Croatia, the Czech Republic, Hungary … when they ease appreciation pressures. Central bank communication and interest rate steps considerably enhance their … effectiveness. The observed effect of interventions on the exchange rate corresponds to the declared objectives of the central banks …