Showing 1 - 10 of 30
The news about the economy contained in a central bank announcement can affect public expectations. This paper shows, using both event studies and vector autoregressions, that such central bank information effects are an important channel of the transatlantic spillover of monetary policy. They...
Persistent link: https://www.econbiz.de/10012298995
Fed's monetary policy announcements convey a mix of news about different kinds of conventional and unconventional policies and about the economy. Financial market responses to these announcements are very leptokurtic: often tiny, but sometimes large. I estimate the underlying structural shocks...
Persistent link: https://www.econbiz.de/10012607553
Persistent link: https://www.econbiz.de/10015071238
Persistent link: https://www.econbiz.de/10001448446
Persistent link: https://www.econbiz.de/10001465651
Persistent link: https://www.econbiz.de/10001466108
Persistent link: https://www.econbiz.de/10001586234
Persistent link: https://www.econbiz.de/10001754837
In the immediate wake of the Great Recession we didn't see the disinflation that most models predicted and, subsequently, we didn't see the inflation they predicted. We show that these puzzles disappear in a Vector Autoregressive model that properly accounts for domestic and global factors. Such...
Persistent link: https://www.econbiz.de/10012963925
Persistent link: https://www.econbiz.de/10008662420