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Geography or skills: What explains Fed watchers’ forecast accuracy of US monetary policy?
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
financial market volatility after FOMC meetings. Finally, Fed communication may exert an influence on forecast accuracy. …The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a … novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 …
Persistent link: https://www.econbiz.de/10011604741
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Geography or skills: what explains Fed Wachters' forecast accuracy of US monetary policy?
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2008
influencing such heterogeneity as Fed communication is found to affect forecast accuracy significantly. …The paper shows that there is a substantial degree of heterogeneity in the ability of Fed watchers to forecast US … FOMC decisions varies 5 to 10 basis points between the best and worstperformers across the sample. This heterogeneity is …
Persistent link: https://www.econbiz.de/10010299141
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Geography, skills or both : what explains Fed watchers' forecast accuracy of US monetary policy?
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - In: Journal of macroeconomics 33 (2011) 3, pp. 420-437
Persistent link: https://www.econbiz.de/10009248386
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Monetary policy communication : evidence from survey data
Popovska-Kamnar, Neda - 2017
This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central … transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …
Persistent link: https://www.econbiz.de/10011717595
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A tale of four tails : inflation, the policy rate, longer-term rates, and stock prices
Anene, Dominic; D'Amico, Stefania - 2017
We analyze empirical links between the perceived tail-risk of inflation, the policy rate, longer-term interest rates, and equity prices in the U.S. Their simultaneous changes enable us to distinguish between a systematic and "exogenous" response to monetary-policy news. And, those tail...
Persistent link: https://www.econbiz.de/10011774934
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Repo market effects of the term securities lending facility
Fleming, Michael J.; Hrung, Warren B.; Keane, Frank M. - 2010
The Term Securities Lending Facility (TSLF) was introduced by the Federal Reserve to promote liquidity in the financing markets for Treasury and other collateral. We evaluate one aspect of the program - the extent to which it has narrowed repo spreads between Treasury collateral and less liquid...
Persistent link: https://www.econbiz.de/10010283535
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Geography or skills : what explains Fed Wachters' forecast accuracy of US monetary policy?
Berger, Helge (contributor); Ehrmann, Michael (contributor);  … - 2008
; forecast ; Federal Reserve ; FOMC ; geography ; skills ; heterogeneity ; survey data ; communication ; United States. … influencing such heterogeneity as Fed communication is found to affect forecast accuracy significantly. -- Monetary policy …The paper shows that there is a substantial degree of heterogeneity in the ability of Fed watchers to forecast US …
Persistent link: https://www.econbiz.de/10003726321
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Communication matters : US monetary policy and commodity price volatility
Hayo, Bernd; Kutan, Ali Mustafa; Neuenkirch, Matthias - 2011 - This version: March 4, 2011
Using a GARCH model, we analyze the influence of U.S. monetary policy action and communication on the price volatility … bank communication during the recent financial crisis: the "calming" effect of communication found for the whole sample is … partly offset during that period. -- Central Bank Communication ; Commodities ; Federal Reserve Bank ; Monetary Policy …
Persistent link: https://www.econbiz.de/10008859667
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Repo market effects of the term securities lending facility
Fleming, Michael J.; Hrung, Warren B.; Keane, Frank M. - 2010
The Term Securities Lending Facility (TSLF) was introduced by the Federal Reserve to promote liquidity in the financing markets for Treasury and other collateral. We evaluate one aspect of the program — the extent to which it has narrowed repo spreads between Treasury collateral and less...
Persistent link: https://www.econbiz.de/10003948796
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Communication Matters : U.S. Monetary Policy and Commodity Price Volatility
Hayo, Bernd - 2011
Using a GARCH model, we analyze the influence of U.S. monetary policy action and communication on the price volatility … bank communication during the recent financial crisis: the “calming” effect of communication found for the whole sample is …
Persistent link: https://www.econbiz.de/10013128878