Showing 1 - 10 of 1,080
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
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
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
Understanding the sources of inflation persistence is crucial for monetary policy. This paper provides an empirical assessment of the influence of inflation expectations' anchoring on the persistence of inflation. We construct a novel index of inflation expectations' anchoring using survey-based...
Persistent link: https://www.econbiz.de/10011978669
Anchoring of inflation expectations is of paramount importance for central banks' ability to deliver stable inflation and minimize price dispersion. Relying on daily interest rates and inflation forecasts from major financial institutions in the United States, we calculate monetary policy...
Persistent link: https://www.econbiz.de/10012392613
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
methodology for the empirical evaluation of consistency in central bank communication. We find that the three communication tools …
Persistent link: https://www.econbiz.de/10014401995
adoption of FFIT by Japan would create the risk of a further hit to credibility if policy was not able to end deflation. In …
Persistent link: https://www.econbiz.de/10014403988
outturns. Using a simple forward-looking policy rule, we find that its main communication tools-inflation targets, inflation …
Persistent link: https://www.econbiz.de/10014401752
’ future reputation and policy credibility …
Persistent link: https://www.econbiz.de/10014401131