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

Neuenkirch, Matthias - 2010

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

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

Neuenkirch, Matthias - 2011

In this paper, we study the influence of central bank transparency on the formation of money market expectations in emerging markets. The sample covers 25 countries for the period from January 1998 to December 2009. We find, first, that transparency reduces the bias (the difference between the...

Persistent link: https://www.econbiz.de/10010286374

Forecasting the central bank’s inflation objective is a good rule of thumb

Diron, Marie; Mojon, Benoît - 2005

This paper first shows that the forecast error incurred when assuming that future inflation will be equal to the inflation target announced by the central bank is typically at least as small and often smaller than forecast errors of model-based and published inflation forecasts. It then shows...

Persistent link: https://www.econbiz.de/10011604610

Social Trust and Central-Bank Independence

Berggren, Niclas; Daunfeldt, Sven-Olof; Hellström, Jörgen - 2012

credibility (or lack-of-trust) problem for monetary policy. This indicates a possible and until now unexplored link between social …

Persistent link: https://www.econbiz.de/10010320270

Central Banking in the Philippines: Then, Now and the Future

Lamberte, Mario B. - 2002

can proceed with greater focus. More specifically, it examined central banking in the Philippines from three perspectives … - the past, the present and the future. First, it took a fresh look at central banking in the Philippines in the last 25 … of central banking in the Philippines. Second, the paper examined the way the Bangko Sentral ng Pilipinas (BSP) currently …

Persistent link: https://www.econbiz.de/10011429692

A double-edged sword: High interest rates in capital-control regimes

2009

Persistent link: https://www.econbiz.de/10014306479

Determinantes de la tasa interbancaria de préstamos en Argentina

Anastasi, Alejandra; Elosegui, Pedro; Sangiácomo, Máximo - 2009

This paper analyzes the determinants of the interest rate of short-term unsecured loan inter-bank market (call) in Argentina. The results show that the heterogeneous nature of the entities, in terms of size and origin of ownership, impacts on the interest rate agreed. Other additional aspects,...

Persistent link: https://www.econbiz.de/10010325101

Monetary target announcements, reputation and hysteresis

Grüner, Hans Peter - 1994

Two signaling games of monetary policy are considered: game one examines the effect of hysteresis on the labor market on the results of the repeated monetary policy game. Disciplinary effects of reputation disappear in presence of hysteresis. The second game compares weifare effects of monetary...

Persistent link: https://www.econbiz.de/10010397973

Firm entry, inflation and the monetary transmission mechanism

Lewis, Vivien; Poilly, Céline - 2011

This paper estimates a business cycle model with endogenous firm entry by matching impulse responses to a monetary policy shock in US data. Our VAR includes net business formation, profits and markups. We evaluate two channels through which entry may influence the monetary transmission process....

Persistent link: https://www.econbiz.de/10011506731

Monetary policy in the media

Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006

, and thus an important factor for its credibility and policy effectiveness. This paper analyses the coverage which ECB …

Persistent link: https://www.econbiz.de/10011604725

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