Showing 51 - 60 of 228
This paper retraces how financial stability considerations interacted with U.S. monetary policy before and during the Great Recession. Using text-mining techniques, we construct indicators for financial stability sentiment expressed during testimonies of four Federal Reserve Chairs at...
Persistent link: https://www.econbiz.de/10012024389
Climate change poses significant challenges through rising temperatures, extreme weather events, and the exposure of economic (and societal) systems to these dangers. The irreversible and potentially non-linear nature of climate change, together with evolving technological and policy landscapes,...
Persistent link: https://www.econbiz.de/10014445896
In this paper, we study the influence of central bank transparency and informal central bank communication on the money market adjustment process between two interest rate decisions. The sample covers nine major central banks for the period from January 1999 to July 2007. We find, first, that...
Persistent link: https://www.econbiz.de/10010281466
We examine the impact of Bank of Canada communications and media reporting on them on Canadian (short- and medium-term) bond and stock market returns using a GARCH model. Communications are rather uniformly distributed over the sample period (1998-2006); however, media coverage is particularly...
Persistent link: https://www.econbiz.de/10010286348
Taylor rule when expressing their opinions: a rise in expected inflation (unemployment) makes a hawkish speech more (less …
Persistent link: https://www.econbiz.de/10010286370
period) in money market expectations. The effect is larger for non-inflation targeters, countries with low income, and … countries with low financial depth. However, the biasreducing effect of transparency prevails only if inflation is relatively …
Persistent link: https://www.econbiz.de/10010286374
Using a GARCH model, we analyze the influence of U.S. monetary policy action and communication on the price volatility of commodities for the period 1998-2009. We find, first, that U.S. monetary policy events have an economically significant impact on price volatility. Second, expected target...
Persistent link: https://www.econbiz.de/10010286427
inflation averse than the ECB. In contrast, the shadow committee of the BoE proposes a more hawkish monetary policy stance than …
Persistent link: https://www.econbiz.de/10014179401
In this paper, we explore the determinants of newswire coverage of Federal Reserve (Fed) communications. Our sample covers all 344 forward-looking communications made in the period May 1999–May 2004. We find, first, that there is a higher likelihood of newswire coverage for monetary policy...
Persistent link: https://www.econbiz.de/10014156978
-December 2015 and five small open inflation targeting economies. Using entropy balancing, I create a synthetic control group ….66-0.69 percentage points (pp) after 30 months. The same increase leads to a reduction in the inflation gap with a peak effect between -0 … level of asset purchases. This causes the impact of asset purchases on the inflation gap to eventually become negative …
Persistent link: https://www.econbiz.de/10012980051