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This paper assesses the effectiveness of monetary policy communication of the Central Bank of Turkey (CBT) by ….e., whether communication improves predictability using the Autoregressive Conditional Hazard model. Our findings suggest that the … targeting (IT) regime. Second, we identify the surprise component of policy communication directly from market commentaries and …
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What institutional arrangements for an independent central bank with a price stability mandate promote good policy outcomes when unconventional policies become necessary? Unconventional monetary policy poses challenges. The large scale asset purchases needed to counteract the zero lower bound on...
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Despite a number of helpful changes, including the adoption of an inflation target, the Fed's monetary policy strategy proved insufficiently resilient in recent years. While the Fed eased policy appropriately during the pandemic, it fell behind the curve during the post-pandemic recovery. During...
Persistent link: https://www.econbiz.de/10014479735
Despite a number of helpful changes, including the adoption of an inflation target, the Fed’s monetary policy strategy proved insufficiently resilient in recent years. While the Fed eased policy appropriately during the pandemic, it fell behind the curve during the post-pandemic recovery....
Persistent link: https://www.econbiz.de/10014483156
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