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ECB communication as a stabilization and coordination device: evidence from ex-ante inflation uncertainty
Fernandes, Cecilia Melo - 2021
This paper investigates the impact of ECB communication of its assessment of the economic outlook on ex-ante inflation … uncertainty and sheds light on how central bank information shocks operate. The paper finds that ECB communication of new outlook … they are also useful for policymakers to define a communication strategy that attenuates ex-ante inflation uncertainty in …
Persistent link: https://www.econbiz.de/10012603073
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Can central banking policies make a difference in financial market performance in emerging economies? : the case of India
Sharma, Gagan Deep; Mahendru, Mandeep; Srivastava, Mrinalini - In: Economies : open access journal 7 (2019) 2/49, pp. 1-19
This paper explores the importance of central banking policies in financial market performance, using the case of India … governors of the Reserve Bank of India-Y V Reddy, D Subbarao, and Raghuram Rajan. The paper discusses the central banking …
Persistent link: https://www.econbiz.de/10012021634
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Monetary policy committee transparency : measurement, determinants, and economic effects
Hayo, Bernd; Mazhar, Ummad - 2011 - This version: 28 September 2011
This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers' educational and professional backgrounds as disclosed through central bank websites. Based on a novel cross-sectional data set covering 75 central banks, we investigate the...
Persistent link: https://www.econbiz.de/10009305845
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Modern Challenges of Monetary Policy Strategies : Inflation and Devaluation Influence on Economic Development of the Country
Abuselidze, George - 2020
The article discusses causes and socio-economic peculiarities of one of the most difficult and undesirable condition for the economy-inflation and devaluation. The purpose of the research is to analyze the socio-economic results of inflation and devaluation in Georgia and to determine the main...
Persistent link: https://www.econbiz.de/10012835155
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Central Bank Transparency and Short Term Interest Rate Forecasting Uncertainty
Hayford, Marc D. - 2008
In 1994 the Federal Reserve System moved to a more transparent reporting of monetary policy. In this paper we first discuss the evolution of Federal Reserve transparency in U.S. and second we test its effectiveness. We assess the empirical impact of monetary policy transparency on the...
Persistent link: https://www.econbiz.de/10012723363
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Optimal Central Bank Transparency
van der Cruijsen, Carin - 2011
Should central banks increase their degree of transparency any further? We show that there is likely to be an optimal intermediate degree of central bank transparency. Up to this optimum more transparency is desirable: it improves the quality of private sector inflation forecasts. But beyond the...
Persistent link: https://www.econbiz.de/10012714128
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Precommitment, transparency and monetary policy
Geraats, Petra M.; Geraats, Petra - 2001
Conventional wisdom says that commitment eliminates the inflationary bias of monetary policy. However, this paper shows that the inflation bias can persist even when the central bank commits. A simple model is presented in which the central bank precommits by setting the policy instrument, and...
Persistent link: https://www.econbiz.de/10001612960
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Precommitment, transparency and monetary policy
Geraats, Petra M. - 2001
Üblicherweise wird angenommen, dass ein Inflationsbias verschwindet, wenn sich eine Zentralbank glaubwürdig im voraus … Modell dargestellt, in dem die Zentralbank im voraus ihre Instrumente festlegt und die anschließende Anpassung der … Zeitinkonsistenzproblem mehr auftritt. Ursache ist die Unsicherheit über die ökonomischen Störungen, auf die die Zentralbank reagiert. Nur …
Persistent link: https://www.econbiz.de/10011419400
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Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?
Bulíř, Aleš - 2014
We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, and Sveriges Riksbank using the Flesch-Kincaid grade level, a standard readability...
Persistent link: https://www.econbiz.de/10013045263
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Does the Clarity of Inflation Reports Affect Volatility in Financial Markets?
Bulíř, Aleš - 2014
We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, and Sveriges Riksbank using the Flesch-Kincaid grade level, a standard readability...
Persistent link: https://www.econbiz.de/10013046714