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Monetary Policy, Parameter Uncertainty and Optimal Learning
Wieland, Volker - 1999
Since central banks have limited information concerning the transmission channel of monetary policy, they are faced with the difficult task of simultaneously controlling the policy target and estimating the impact of policy actions. A tradeoff between estimation and control arises because policy...
Persistent link: https://www.econbiz.de/10014178888
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Updating inflation expectations
Lamla, Michael J.; Sarferaz, Samad - 2012
This paper investigates how inflation expectations evolve. In particular, we analyze the time-varying nature of the … propensity to update expectations and its potential determinants. For this purpose we set up a flexible econometric model that … tracks the formation of inflation expectations of consumers at each moment in time. We show that the propensity to update …
Persistent link: https://www.econbiz.de/10010294384
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Exchange rate dynamics, expectations, and monetary policy
Chen, Qianying - 2011
-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of … monetary policy. I use consensus forecasts as a proxy for market expectations. The analysis on the Deutsche mark, Canadian … expectations of future monetary policy, Taylor rule fundamentals are able to forecast changes in the exchange rate, even over short …
Persistent link: https://www.econbiz.de/10010305998
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The euro cash changeover, inflation perceptions and the media
Lamla, Michael J.; Lein, Sarah M. - 2010
In the aftermath of the euro cash changeover consumers' inflation perceptions rose substantially in the euro area countries while actual inflation figures remained almost unchanged. During that period media reporting on the potentially large inflationary effect of the euro introduction...
Persistent link: https://www.econbiz.de/10010277743
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Updating inflation expectations
Lamla, Michael J.; Sarferaz, Samad - 2012
This paper investigates how inflation expectations evolve. In particular, we analyze the time-varying nature of the … propensity to update expectations and its potential determinants. For this purpose we set up a flexible econometric model that … tracks the formation of inflation expectations of consumers at each moment in time. We show that the propensity to update …
Persistent link: https://www.econbiz.de/10010319734
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The role of media for consumers' inflation expectation formation
Lamla, Michael J.; Lein, Sarah M. - 2008
This paper analyzes the impact of the media on consumers' inflation expectations. We distinguish two channels through … which media can influence expectations. First, the intensity of news coverage on inflation plays a role (volume channel …
Persistent link: https://www.econbiz.de/10010285796
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The role of media for consumers' inflation expectation formation
Lamla, Michael (contributor);  … - 2008
This paper analyzes the impact of the media on consumers' inflation expectations. We distinguish two channels through … which media can influence expectations. First, the intensity of news coverage on inflation plays a role (volume channel …
Persistent link: https://www.econbiz.de/10003767765
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The euro cash changeover, inflation perceptions and the media
Lamla, Michael; Lein-Rupprecht, Sarah M. - 2010
In the aftermath of the euro cash changeover consumers’ inflation perceptions rose substantially in the euro area countries while actual inflation figures remained almost unchanged. During that period media reporting on the potentially large inflationary effect of the euro introduction...
Persistent link: https://www.econbiz.de/10008729146
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Updating inflation expectations
Lamla, Michael; Sarferaz, Samad - 2012
This paper investigates how inflation expectations evolve. In particular, we analyze the time-varying nature of the … propensity to update expectations and its potential determinants. For this purpose we set up a flexible econometric model that … tracks the formation of inflation expectations of consumers at each moment in time. We show that the propensity to update …
Persistent link: https://www.econbiz.de/10009534067
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Exchange rate dynamics, expectations, and monetary policy
Chen, Qianying - 2011
-adjusted, uncovered interest parity model with unrestricted parameters, emphasizing the importance of modeling market expectations of … monetary policy. I use consensus forecasts as a proxy for market expectations. The analysis on the Deutsche mark, Canadian … expectations of future monetary policy, Taylor rule fundamentals are able to forecast changes in the exchange rate, even over short …
Persistent link: https://www.econbiz.de/10009244259