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Monetary Policy Communication Under Inflation Targeting : Do Words Speak Louder Than Actions?

Demiralp, Selva; Kara, Hakan; Ozlu, Pinar - Türkiye Cumhuriyet Merkez Bankası - 2011

This paper assesses the effectiveness of monetary policy communication of the Central Bank of Turkey (CBT) by quantifying the information content of the policy statements released right after the monthly Monetary Policy Committee meetings. First, we quantify the signal regarding the next...

Persistent link: https://www.econbiz.de/10009321844

Central bank communication: fragmentation as an engine for limiting the publicity degree of information

Trabelsi, Emna - Volkswirtschaftliche Fakultät, … - 2010

In earlier theoretical framework, Morris and Shin (2002) highlight the potential dangers of transparency policy. In …

Persistent link: https://www.econbiz.de/10008694017

How avoiding overreaction to public information? Some insights on central bank communication practices

Trabelsi, Emna - Economics and Econometrics Research Institute (EERI) - 2012

It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the …

Persistent link: https://www.econbiz.de/10010860044

Wondering How Others Interpret It: Social Value of Public Information

Gizatulina, Alia - Max-Planck-Institut zur Erforschung von … - 2013

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/10010667902

Interpreting How Others Interpret It: Social Value of Public Information

Gizatulina, Alia - CESifo - 2012

This paper studies the social value of public information in environments without common knowledge of data-generating process. We show that the stronger is the coordination motive behind agents behaviour, the more they would like to interpret private or public signals in the way that they...

Persistent link: https://www.econbiz.de/10010583887

Public Communication and Information Acquisition

Chahrour, Ryan - Department of Economics, Boston College - 2012

This paper models the tradeoff, perceived by central banks and other public actors, between providing the public with useful information and the risk of overwhelming it with excessive communication. An information authority chooses how many signals to provide regarding an aggregate state and...

Persistent link: https://www.econbiz.de/10010938553

Monetary policy communication in Turkey

Demiralp, Selva; Kara, Hakan; Özlü, Pınar - In: European Journal of Political Economy 28 (2012) 4, pp. 540-556

This paper assesses the effectiveness of monetary policy communication of the Central Bank of Turkey (CBT) by quantifying the information content of its policy statements released right after the monthly Monetary Policy Committee meetings. First, we quantify the signal regarding the next...

Persistent link: https://www.econbiz.de/10011056257

The role of central bank transparency for guiding private sector forecasts

Ehrmann, Michael; Eijffinger, Sylvester C W; … - C.E.P.R. Discussion Papers - 2009

expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional … forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies. It … finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …

Persistent link: https://www.econbiz.de/10008458290

News and Interest Rate Expectations: A Study of Six Central Banks

Connolly, Ellis; Kohler, Marion - Reserve Bank of Australia

Persistent link: https://www.econbiz.de/10005423394

A Perspective on Monetary Policy Transparency and Communication

Edey, Malcolm; Stone, Andrew - Reserve Bank of Australia

Persistent link: https://www.econbiz.de/10005423398

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