implications about the evolution of the Federal Reserve's monetary-policy preferences. Standard models of central bank optimization … predict that the central bank's preference for output stability is a determinant of inflation persistence. Hence, time …

markets. The analysis shows that swap lines by the Swiss National Bank (SNB) had a positive impact on bank stocks in Central … and Eastern Europe. It then highlights the importance of individual bank characteristics in identifying the impact of swap … lines on bank stocks. Bank-level evidence suggests that stock prices of local and less-well capitalized banks as well as …

Within a decision-making group, such as the monetary-policy committee of a central bank,group members often hold …

benefits and limitations of central bank communications in a model of imperfect knowledge and learning. It is shown that the … imperfect information communicated by a central bank, such communication can inform and improve the public`s decisions and … strategy. The risk of distraction means the central bank may prefer to focus its communi-cation policies on the information it …

How does central bank conservatism affect labor market reform? In this paper we examine the economic forces at work. An …

. In particular, the central bank should be ready to operate as LOLR during Sudden Stop (of capital inflows) by releasing …

? Using data from the Czech National Bank and data on individual Czech banks, I find evidence that in 1995 banks are provided … portfolio switch and find that the central bank instituted a monetary tightening during a regime of fixed exchange rates and … mobile capital. The central bank sterilized the continuing capital inflows. The resulting higher interbank interest rates and …