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Self-monitoring or reliance on media reporting : how do financial market participants process central bank news?

Hayo, Bernd; Neuenkirch, Matthias - In: Journal of banking & finance 59 (2015), pp. 27-37

Persistent link: https://www.econbiz.de/10011544283

An unconventional approach to evaluate the Bank of England's asset purchase program

Neuenkirch, Matthias - 2016 - This version: November 2, 2016

Empirical papers analysing the transmission of (unconventional) monetary policy typically rely on a vector autoregressive framework. In this paper, I complement these studies and employ a matching approach to examine the impact of the Bank of England's asset purchase program on macroeconomic...

Persistent link: https://www.econbiz.de/10011553983

When is lift-off? : evaluating forward guidance from the shadow

Neuenkirch, Matthias; Siklos, Pierre L. - In: Open economies review 25 (2014) 5, pp. 819-839

Persistent link: https://www.econbiz.de/10010486532

Are public preferences reflected in monetary policy reaction functions?

Neuenkirch, Matthias - In: Journal of macroeconomics 40 (2014), pp. 60-68

Persistent link: https://www.econbiz.de/10010495752

Central bank transparency and financial market expectations : the case of emerging markets

Neuenkirch, Matthias - 2011 - This version: 07 September 2011

In this paper, we study the influence of central bank transparency on the formation of money market expectations in … transparency reduces the bias (the difference between the money market rate and the weighted expected target rate over the contract … period) in money market expectations. The effect is larger for non-inflation targeters, countries with low income, and …

Persistent link: https://www.econbiz.de/10009295655

Managing financial market expectations : the role of central bank transparency and central bank communication

Neuenkirch, Matthias - In: European journal of political economy 28 (2012) 1, pp. 1-13

Persistent link: https://www.econbiz.de/10009516012

Inflation targeting, credibility and non-linear Taylor rules

Neuenkirch, Matthias; Tillmann, Peter - 2012

In this paper we systematically evaluate how central banks respond to inflation deviations from target. We present a stylized New Keynesian model in which agents' inflation expectations are sensitive to inflation deviations from target. To (re-)establish credibility, optimal monetary policy...

Persistent link: https://www.econbiz.de/10009564263

Is there wisdom in a second opinion? : shadowing the ECB and the Bank of England

Neuenkirch, Matthias; Siklos, Pierre L. - 2011 - This draft: August 2011

The European Central Bank (ECB) and the Bank of England (BoE) are shadowed by professionals and academic economists who provide a separate policy rate recommendation in advance of the central bank's announcement. We explore differences between shadow and actual committee decisions based on an...

Persistent link: https://www.econbiz.de/10009235966

Do Federal Reserve communications help predict federal funds target rate decisions?

Hayo, Bernd; Neuenkirch, Matthias - In: Journal of macroeconomics 32 (2010) 4, pp. 1014-1024

Persistent link: https://www.econbiz.de/10008937780

Central banks' predictability : an assessment by financial market participants

Hayo, Bernd; Neuenkirch, Matthias - 2016 - This version: 3 April 2016

In this paper, we examine the relationship between market participants' perception of central bank predictability and their assessment of central bank communication skills and success in conveying objectives as well as the importance of transparency-enhancing measures, such as voting records,...

Persistent link: https://www.econbiz.de/10011447433