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It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the …
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, coordinated messages that are anchored in the central banks' mandate are of essence. We focus upon transparency and "forward … effectiveness of central bank's policies can be improved through more transparency and "forward guidance". We do so by highlighting …
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This paper discusses the evolution of central bank communication, focusing on recent efforts by central banks to engage with a wider audience via social media. We document the social media presence of major central banks and discuss how analyzing Twitter content by and about monetary policy...
Persistent link: https://www.econbiz.de/10014238784
respect to transparency. Previous literature has argued that domestic factors such as macroeconomic stability were behind the … trend toward greater transparency. In contrast, our results indicate that transparency primarily increased because of a … from each other's experiences regarding transparency. To our knowledge, our paper is the first econometric analysis of peer …
Persistent link: https://www.econbiz.de/10012256102
This paper studies the social value of public information in environments without common knowledge of the data-generating process. We show that the stronger the coordination motive behind agents' behaviour is, the more they use private or public signals in the way that they suspect others are...
Persistent link: https://www.econbiz.de/10010323848
This paper conducts a comparative analysis of the performances of the forward guidance strategies adopted by the Reserve Bank of New Zealand, the Norges Bank and the Riksbank, with the aim to gauge whether forward guidance via publication of an own interest rate path enhances a central bank’s...
Persistent link: https://www.econbiz.de/10011605144