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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 - 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. -- ECB ; central bank ; communication …
Persistent link: https://www.econbiz.de/10003872830
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Transparency of monetary policy : theory and practice
Geraats, Petra M. (contributor) - 2005
, this paper aims to bridge the gap between the theory and practice of monetary policy transparency. …
Persistent link: https://www.econbiz.de/10003204018
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Central bank communication with the general public
Dräger, Lena - 2023
This paper surveys the literature on the role and effects of central bank communication with the general public … "communication revolution" in central bank communication. The challenges for central bank communication with the public are outlined … evaluate the effects of direct communication, distinguishing between challenges to getting the attention of the public and …
Persistent link: https://www.econbiz.de/10014384011
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Monetary policy communications and their effects on household inflation expectations
Coibion, Olivier; Gorodnichenko, Yuriy; Weber, Michael - 2019
We study how different forms of communication influence the inflation expectations of individuals in a randomized …
Persistent link: https://www.econbiz.de/10011958866
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The importance of being vigilant : has ECB communication influenced Euro area inflation expectations?
Jansen, David-Jan (contributor); Haan, Jakob de (contributor) - 2007
Persistent link: https://www.econbiz.de/10003623777
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Monetary policy transparency
Geraats, Petra M. - 2014
There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper provides an overview of the ways in which central banks have been providing more information about their monetary policymaking. Furthermore, it reviews the theoretical literature on...
Persistent link: https://www.econbiz.de/10010237274
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Political pressures and monetary mystique
Geraats, Petra M. (contributor) - 2007
Persistent link: https://www.econbiz.de/10003497780
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Forward guidance contracts
Gersbach, Hans; Hahn, Volker; Liu, Yulin - 2015 - This version: May 2015
We examine "Forward Guidance Contracts", which make central bankers' utility contingent on the precision of interest-rate forecasts for some time. Such Forward Guidance Contracts are a exible commitment device and can improve economic performance when the economy is stuck in a liquidity trap....
Persistent link: https://www.econbiz.de/10010528970
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Optimal conservatism and collective monetary policymaking under uncertainty
Hefeker, Carsten; Zimmer, Blandine - 2014
We study how the optimal degree of conservatism relates to decision-making procedures in a Monetary Policy Committee (MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated by the presence of uncertainty about the committee...
Persistent link: https://www.econbiz.de/10010391838
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Credibility and transparency of Central Banks : new results based on Ifo s world economicy survey
Hamella, Sandra; Haan, Jakob de - 2004
This paper reports the results of a survey among private sector economists about credibility and transparency of central banks. In line with the survey of Alan Blinder among central bankers, we asked participants in Ifo s World Economic Survey to answer questions on the importance and...
Persistent link: https://www.econbiz.de/10011399168