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We offer a novel methodology for assessing the quality of inflation reports. In contrast to the existing literature, which mostly evaluates the formal quality of these reports, we evaluate their economic content by comparing inflation factors reported by the central banks with ex-post...
Persistent link: https://www.econbiz.de/10014411339
methodology for the empirical evaluation of consistency in central bank communication. We find that the three communication tools …, and Sweden …
Persistent link: https://www.econbiz.de/10014401995
The experience of full-fledged inflation targeting (FFIT) countries is used here to shed light on the costs and benefits of greater monetary policy transparency for the G3. For the United States and the euro area, a hypothetical adoption of FFIT would incur a cost of less discretion while...
Persistent link: https://www.econbiz.de/10014403988
This paper assesses the quality of the CBC's communication policy by looking at the predictability and effectiveness of … for the three major communication channels of the CBC: the release of policy meetings' statements, minutes, and monetary … monetary policy surprises associated with meeting statements and the impact of the above communication channels on asset …
Persistent link: https://www.econbiz.de/10011878683
This paper estimates neutral real interest rate (NRIR) ranges for 10 Latin American countries that either have full-fledged inflation targeting regimes in place or have recently adopted them, using an array of methodologies commonly used in the literature. We find that NRIRs have declined in the...
Persistent link: https://www.econbiz.de/10014395307
''s preference parameters for Canada, Sweden, and the United Kingdom are statistically different from the one implied by the commonly …
Persistent link: https://www.econbiz.de/10014400680
effective monetary policy communication will only increase as China continues to liberalize its financial system and open its … markets of the PBC's main communication channels, including a novel communication channel. The results suggest that there has … been significant progress but that PBC communication is still evolving toward the level of other major economies. The paper …
Persistent link: https://www.econbiz.de/10011978360
Persistent link: https://www.econbiz.de/10010388763
Since the adoption of the inflation targeting framework by Bank Indonesia (BI), monetary policy communication has … played an increasingly important role in BI's policy toolkit. This paper assesses BI's monetary policy communication from … significant progress in the transparency of its communication as well as in the institutional framework to support this …
Persistent link: https://www.econbiz.de/10012252075
, forward-looking, and thematic assessment of financial stability. A well thought out communication strategy, including a …
Persistent link: https://www.econbiz.de/10011671110