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informal communication - including unattributed communication -- plays a central role in monetary policy communication. This … contrasts with the standard communications framework in which communication should be public and on-the-record because it serves … to ensure accountability and policy effectiveness. I lay out possible benefits of using unattributed communication as an …
Persistent link: https://www.econbiz.de/10012482494
communication about future interest rate decisions based on information from the Internet and news sources. We apply the methodology … announcements, whereas longer-dated Treasuries mainly react to changes in policy communication. Using lower frequency data, we find …, we find communication to be a more important determinant of Treasury rates than contemporaneous policy rate decisions …
Persistent link: https://www.econbiz.de/10012463283
Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real …-world developments have spawned a huge new scholarly literature on central bank communication -- mostly empirical, and almost all of it … written in this decade. We survey this ever-growing literature. The evidence suggests that communication can be an important …
Persistent link: https://www.econbiz.de/10012464715
communication by central banks about their policy decisions, the targets that they seek to achieve through those decisions, and the … central bank's view of the economy's likely future evolution. This paper considers the role of such communication in the …
Persistent link: https://www.econbiz.de/10012466773