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Signaling effects of monetary policy
Melosi, Leonardo - 2016
We develop a dynamic general equilibrium model in which the policy rate signals the central bank's view about macroeconomic developments to price setters. The model is estimated with likelihood methods on a U.S. data set that includes the Survey of Professional Forecasters as a measure of price...
Persistent link: https://www.econbiz.de/10011559878
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Signaling Effects of Monetary Policy
Melosi, Leonardo - 2012
We develop a DSGE model in which the policy rate signals the central bank's view about macroeconomic developments to incompletely informed price setters. The model is estimated with likelihood methods on a U.S. data set including the Survey of Professional Forecasters as a measure of price...
Persistent link: https://www.econbiz.de/10013098488
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Signalling Effects of Monetary Policy in Nigeria : Evidence from the New Central Bank’s Communication Regime: 2005-2011
Sanusi, Aliyu Rafindadi - 2013
identify the higher volatility of the rates as the signalling effect of monetary policy communication. This, we argue, suggests …
Persistent link: https://www.econbiz.de/10013092638
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Signaling Effects of Monetary Policy
Melosi, Leonardo - 2016
We develop a dynamic general equilibrium model in which the policy rate signals the central bank's view about macroeconomic developments to price setters. The model is estimated with likelihood methods on a U.S. data set that includes the Survey of Professional Forecasters as a measure of price...
Persistent link: https://www.econbiz.de/10012979125
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Signalling vs. Cost-of-Fund Effects of Monetary Policy in Nigeria : Evidence from the Post-Banking Sector Consolidation Data
Sanusi, Aliyu Rafindadi - 2016
-structure of interest rates. This is the signalling effect of monetary policy. This paper uses daily data for the period 2009 …
Persistent link: https://www.econbiz.de/10013008607
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Signaling Effects of Monetary Policy
Melosi, Leonardo - 2013
We develop a DSGE model in which the policy rate signals to price setters the central bank's view about macroeconomic developments. The model is estimated with likelihood methods on a U.S. data set that includes the Survey of Professional Forecasters as a measure of price setters' inflation...
Persistent link: https://www.econbiz.de/10013080066
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The Economic Impact of Central Bank Transparency : A Survey
van der Cruijsen, Carin - 2011
investigating several, more recent, research strands (e.g. coordination and learning). Then, we summarize the empirical literature …
Persistent link: https://www.econbiz.de/10012714495
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Signaling effects of monetary policy
Melosi, Leonardo - 2012
We develop a DSGE model in which the policy rate signals the central bank.s view about macroeconomic developments to incompletely informed price setters. The model is estimated with likelihood methods on a U.S. data set including the Survey of Professional Forecasters as a measure of price...
Persistent link: https://www.econbiz.de/10009656076
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The signalling channel of negative interest rates
De Groot, Oliver; Haas, Alexander - 2022 - Current version: January 7, 2022
Negative interest rates remain a controversial policy for central banks. We study a novel signalling channel and ask … signalling channel dominates the costly interest margin channel. However, the effectiveness of negative rates depends sensitively …
Persistent link: https://www.econbiz.de/10012801769
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On the macroeconomic effects of reinvestments in asset purchase programmes
Gerke, Rafael; Kienzler, Daniel; Scheer, Alexander - 2022
A feature of recent monetary policy asset purchase programmes is the reinvestment policy: the central bank announces to keep the overall volume of assets on its balance sheet constant for some time. In this paper, we systematically assess the macroeconomic effects of such reinvestment policies....
Persistent link: https://www.econbiz.de/10013460153