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Monetary policy transparency
Geraats, Petra M. - 2014
There has been a remarkable rise in the transparency of monetary policy during the last two decades. This paper provides an overview of the ways in which central banks have been providing more information about their monetary policymaking. Furthermore, it reviews the theoretical literature on...
Persistent link: https://www.econbiz.de/10010237274
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Optimal conservatism and collective monetary policymaking under uncertainty
Hefeker, Carsten; Zimmer, Blandine - 2014
We study how the optimal degree of conservatism relates to decision-making procedures in a Monetary Policy Committee (MPC). In our framework, central bank conservatism is required to attenuate the volatility of monetary decisions generated by the presence of uncertainty about the committee...
Persistent link: https://www.econbiz.de/10010391838
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Bank stability and transparency
Nier, Erlend W. - In: Journal of financial stability 1 (2004/05) 3, pp. 342-354
Persistent link: https://www.econbiz.de/10003773198
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Monetary policy in an imperfect information environment
Other, Lars - 2021
Persistent link: https://www.econbiz.de/10012519676
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Communication of Central Banks as a determinant of credibility and effectiveness of monetary policy
Misztal, Piotr - In: European research studies 25 (2022) 3, pp. 539-554
Persistent link: https://www.econbiz.de/10013532433
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Do central bank forecasts matter for professional forecasters?
Kotłowski, Jacek - In: Finance a úvěr 65 (2015) 6, pp. 432-454
Persistent link: https://www.econbiz.de/10011415746
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Optimal degrees of transparency in monetary policymaking
Jensen, Henrik - 2001
Den meisten Akademikern und politischen Entscheidungsträgern zufolge ist Transparenz in der Geldpolitik wünschenswert … der Zentralbank zu schließen, wodurch die laufende Inflation stärker auf stabilitätspolitische Maßnahmen reagiert. Dies … führt dazu, dass die Zentralbank sich eher auf die Inflation als auf die Stabilisierung der Produktionslücke konzentriert …
Persistent link: https://www.econbiz.de/10011419293
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Central Bank communication and monetary policy predictability under uncertain economic conditions
Lehtimäki, Jonne O.; Palmu, Marianne - In: Journal of central banking theory and practice 8 (2019) 2, pp. 3-32
Modern central banks increasingly value monetary policy transparency, and attempt to build credibility by communicating their decisions to the public. This paper studies whether the communication of central banks can be used to explain upcoming changes in their most important monetary policy...
Persistent link: https://www.econbiz.de/10012016799
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The limits of forward guidance
Campbell, Jeffrey R.; Ferroni, Filippo; Fisher, Jonas D. M. - 2019
Persistent link: https://www.econbiz.de/10012128413
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The limits of forward guidance
Campbell, Jeffrey R.; Ferroni, Filippo; Fisher, Jonas D. M. - 2019
The viability of forward guidance as a monetary policy tool depends on the horizon over which it can be communicated and its influence on expectations over that horizon. We develop and estimate a model of imperfect central bank communications and use it to measure how effectively the Fed has...
Persistent link: https://www.econbiz.de/10011986452