operational independence in May 1997. It also checks if this credibility measure has increased the predictability of BoE decisions … influence more English interest rate volatility after May 1997. This results suggests that the credibility and/or transparency … by the BoE and the evolution of the transparency and credibility index suggest that the BoE transparency and credibility …

We quantify the effects of monetary policy transparency and credibility on macroeconomic volatility in an estimated …

addition, central banks must become more accountable by increasing the transparency of their lender ‐ of ‐ last ‐ resort and …

the ECB monetary policy strategy. A contemporaneous reaction function is estimated using both a GMM framework and an … key role in the ECB interest-rate setting, since it appears as a relevant indicator of future inflation. However, the ECB … behaviour of the ECB. …

policy decisions by the Federal Open Market Committee (FOMC) and the European Central Bank (ECB). We confirm prior findings … is not related to ECB meeting days. VIX is unrelated to ECB meeting days. Taken collectively, our results indicate a … uncertainty levels and the ECB. JEL …

transparency measure (i.e. announcing the policy rate immediately after the meetings and regularly at scheduled time) has increased … with theory, a greater transparency improves market participants' understanding of the Federal Reserve's monetary policy ….S. interest rate volatility after 1994. This observation suggests that the FED's credibility might have decreased after 1994 …

-prices model. Under full credibility, a reduction in the rate of devaluation results in an immediate and permanent reduction in the …