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The National Bank of Ukraine communication strategy optimization within the framework of impact on exchange rate expectations of economic agents
Holub, Roksolana; Hlushchenko, Oleksandr - In: Economies : open access journal 5 (2017) 3, pp. 1-15
An important challenge in terms of smoothing excessive exchange rate volatility under the conditions of flexible exchange rate arrangement is optimization of the communication strategy of the country’s monetary regulator. Over the past two decades, communication (information support) has...
Persistent link: https://www.econbiz.de/10011754860
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Assessing central bank commitment to inflation targeting : evidence from financial market expectations in India
Garga, Vaishali; Lakdawala, Aeimit; Sengupta, Rajeswari - 2022 - This version: October 2022
We propose a novel framework to gauge the credibility of central banks' commitment to an inflation-targeting regime …
Persistent link: https://www.econbiz.de/10013468210
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Cross-Dynamics of Exchange Rate Expectations : A Wavelet Analysis
Nikkinen, Jussi; Pynnonen, Seppo; Ranta, Mikko; … - 2020
This paper focuses on the cross-dynamics of exchange rate expectations over different time-scales. We use over-the-counter currency options on the euro, Japanese yen, and British pound vis-à-vis the U.S. dollar to extract expected probability density functions of future exchange rates, and...
Persistent link: https://www.econbiz.de/10014352436
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Disagreement in expectations and the credibility of monetary authorities in the Brazilian inflation targeting regime
Vereda, Luciano; Curi, Alexandre - In: Economia : revista da ANPEC 17 (2016) 1, pp. 56-76
investigates the driving factors of disagreement, paying special attention to the influence of monetary authorities' credibility …' credibility; this relationship is positive in the case of the growth rate of industrial production. …
Persistent link: https://www.econbiz.de/10011865624
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Robust Taylor Rules in an Open Economy with Heterogeneous Expectations and Least Squares Learning
Bask, Mikael; Selander, Carina - 2007
The aim of this paper is threefold: (i) to investigate if there is a unique rational expectations equilibrium (REE) in the small open economy in Galí and Monacelli (2005) that is augmented with technical trading in the foreign exchange market; (ii) to investigate if the unique REE is adaptively...
Persistent link: https://www.econbiz.de/10014224708
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Escaping Expectation Traps : How Much Commitment is Required?
Himmels, Christoph - 2012
In this paper we study the degree of precommitment that is required to eliminate multiplicity of policy equilibria, which arise if the policy maker acts under pure discretion. We apply a framework developed by Schaumburg and Tambalotti (2007) and Debortoli and Nunes (2010) to a standard New...
Persistent link: https://www.econbiz.de/10013115169
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Inflation expectations, inflation target credibility and the COVID-19 pandemic : new evidence from Germany
Coleman, Winnie; Nautz, Dieter - 2021
citizens in January 2019 that is designed to measure long-term inflation expectations and the credibility of the inflation … target. Our results indicate that credibility has decreased in our sample period, particularly in the course of the deep … several years, credibility has declined mainly because Germans increasingly expect that inflation will be much higher than 2 …
Persistent link: https://www.econbiz.de/10012661961
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Inflation expectations, inflation target credibility and the COVID-19 pandemic : new evidence from Germany
Coleman, Winnie; Nautz, Dieter - 2021
citizens in January 2019 that is designed to measure long-term inflation expectations and the credibility of the inflation … target. Our results indicate that credibility has decreased in our sample period, particularly in the course of the deep … several years, credibility has declined mainly because Germans increasingly expect that inflation will be much higher than 2 …
Persistent link: https://www.econbiz.de/10012590362
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The Impact of Providing Information about the ECB's Instruments on Infation Expectations and Trust in the ECB : Experimental Evidence
Brouwer, Nils; de Haan, Jakob - 2021
We use a random controlled trial among Dutch households to analyze whether communication about monetary policy instruments impacts inflation expectations and trust in the ECB. All participants in the survey receive information about the ECB’s goal, but only a subset also receives information...
Persistent link: https://www.econbiz.de/10013239581
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Inflation target credibility in times of high inflation
Coleman, Winnie; Nautz, Dieter - 2022
We use a representative online survey to investigate the inflation expectations of German consumers and the credibility … of the ECB's inflation target during the recent high inflation period. We find that credibility has trended downwards …
Persistent link: https://www.econbiz.de/10013285915