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Federal Reserve Private Information and the Behavior of Interest Rates
Romer, Christina D.; Romer, David H. - 2021
Many authors argue that asymmetric information between the Federal Reserve and the public is important to the conduct and the effects of monetary policy. This paper tests for the existence of such asymmetric information by examining Federal Reserve and commercial inflation forecasts. We...
Persistent link: https://www.econbiz.de/10013218719
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Federal reserve private information and the behavior of interest rates
Romer, Christina; Romer, David - 1996
Persistent link: https://www.econbiz.de/10000598152
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Federal Reserve information and the behavior of interest rates
Romer, Christina; Romer, David - In: The American economic review 90 (2000) 3, pp. 429-457
Persistent link: https://www.econbiz.de/10001505219
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Do central bank forecasts influence private agents? : forecasting performance versus signals
Hubert, Paul - In: Journal of money, credit and banking : JMCB 47 (2015) 4, pp. 771-789
Persistent link: https://www.econbiz.de/10011307957
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The tyranny of the tenths : the rise and gradual fall of forward guidance in Sweden 2007-2018
Andersson, Fredrik N. G.; Jonung, Lars - 2019
Persistent link: https://www.econbiz.de/10012508641
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Communication about future policy rates in theory and practice : a survey
Moessner, Richhild; Jansen, David-Jan; Haan, Jakob de - 2015
Persistent link: https://www.econbiz.de/10011283836
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Forward Guidance with Unanchored Expectations
Eusepi, Stefano; Gibbs, Christopher; Preston, Bruce - 2021
We study zero interest-rate policy in response to a large negative demand shock when long-run expectations can fall over time. Because falling expectations make monetary policy less effective by raising real interest rates, the optimal forward guidance policy makes large front-loaded promises to...
Persistent link: https://www.econbiz.de/10013214045
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Communication about future policy rates in theory and practice : a survey
Moessner, Richhild; Jansen, David-Jan; Haan, Jakob de - In: Journal of economic surveys 31 (2017) 3, pp. 678-711
Persistent link: https://www.econbiz.de/10011757818
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Forward guidance under disagreement : evidence from the Fed's dot projections
Detmers, Gunda-Alexandra - 2016
This paper compares the effectiveness of date- and state-based forward guidance issued by the Federal Reserve since mid-2011 accounting for the influence of disagreement within the FOMC. Effectiveness is investigated through the lens of interest rates’ sensitivity to macroeconomic news and I...
Persistent link: https://www.econbiz.de/10011550316
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Publishing Central Bank Forecasts
Yetman, James - 2002
In this paper, a simple model of information asymmetry is used to study central bank forecast publication. Central … banks are assumed to choose between not publishing a forecast, publishing a forecast that conditions on current policy …, publishing an unconditional forecast, or publishing both. There is no incentive for the central bank to publish forecasts unless …
Persistent link: https://www.econbiz.de/10014121015