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Credibility and Transparency of Central Banks : New Results Based on Ifo's World Economic Survey
de Haan, Jakob; Waller, Sandra - 2021
This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …
Persistent link: https://www.econbiz.de/10013319246
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Communication of monetary policy in unconventional times
Coenen, Günter; Ehrmann, Michael; Gaballo, Gaetano; … - 2017
only a short horizon, and that the credibility of forward guidance is strengthened if the central bank also has embarked on …
Persistent link: https://www.econbiz.de/10011663996
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Central banks' predictability : an assessment by financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2016 - This version: 3 April 2016
In this paper, we examine the relationship between market participants' perception of central bank predictability and their assessment of central bank communication skills and success in conveying objectives as well as the importance of transparency-enhancing measures, such as voting records,...
Persistent link: https://www.econbiz.de/10011447433
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Central banks' predictability : an assessment by financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2016 - This version: 6 April 2016
In this paper, we examine the relationship between market participants' perception of central bank predictability and their assessment of central bank communication skills and success in conveying objectives as well as the importance of transparencyenhancing measures, such as voting records,...
Persistent link: https://www.econbiz.de/10011447633
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Non-Monetary News in Central Bank Communication
Cieslak, Anna - 2019
We quantify the importance of non-monetary news in central bank communication. Using evidence from four major central banks and a comprehensive classification of events, we decompose news conveyed by central banks into news about monetary policy, economic growth, and separately, shocks to risk...
Persistent link: https://www.econbiz.de/10012896694
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Not all ECB meetings are created equal
Kandemir, Sinem; Tillmann, Peter - 2023
Most meetings of the Governing Council of the ECB take place intra muros at the ECB's premises in Frankfurt. Some meetings, however, are held extra muros, i.e. outside Frankfurt, hosted by one of the national central banks. This paper uses high-frequency surprises from meeting days to show that...
Persistent link: https://www.econbiz.de/10014280769
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Credibility and transparency of Central Banks : new results based on Ifo s world economicy survey
Hamella, Sandra; Haan, Jakob de - 2004
This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …
Persistent link: https://www.econbiz.de/10011399168
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Tweeting on monetary policy and market sentiments : the Central Bank Surprise Index
Masciandaro, Donato; Romelli, Davide; Rubera, Gaia - 2020
This paper explores the relationship between central bank communication and market sentiment,and proposes a new measure. Market sentiment is proxied using a Twitter-based metric: theCentral Bank Surprise Index. The empirical study covers three cases: the Federal Reserve, theEuropean Central Bank...
Persistent link: https://www.econbiz.de/10012210744
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How much information do monetary policy committees disclose? : evidence from the FOMC's minutes and transcripts
Apel, Mikael; Grimaldi, Marianna; Hull, Isaiah - 2019
The purpose of central bank minutes is to give an account of monetary policy meeting discussions to outside observers, thereby enabling them to draw informed conclusions about future policy. However, minutes are by necessity a shortened and edited representation of a broader discussion....
Persistent link: https://www.econbiz.de/10012123491
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Does clarity of central bank communication affect credibility? : evidences considering governor-specific effects
Montes, G. C.; Nicolay, R. T. F. - In: Applied economics 49 (2017) 31/33, pp. 3163-3180
Persistent link: https://www.econbiz.de/10011774517