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communication. We might expect interest rate expectations, and potentially other asset prices, to react to official communication if … such communication helps inform market participants. We find evidence that the publication of the Minutes of the Monetary … for the UK are arguably less strong than Kohn and Sack’s (2003) findings for US Federal Reserve communication. Although …
Persistent link: https://www.econbiz.de/10003384156
This paper explores the relationship between central bank communication and market sentiment,and proposes a new measure …
Persistent link: https://www.econbiz.de/10012210744
This paper investigates whether financial markets stability matters in setting monetary policy in the case of the European Central Bank and Bank of England over the period 2003-2018. We adopt a forward-looking version of the Taylor rule as well as a Tri-mandate Taylor rule and we show that they...
Persistent link: https://www.econbiz.de/10013403572
This paper investigates the effectiveness of one of the Fed's unconventional monetary policy tools, the term auction facility (TAF). At issue is whether the TAF reduced the spread between LIBOR rates and equivalent-term Treasury rates by reducing the liquidity premium embedded in LIBOR rates....
Persistent link: https://www.econbiz.de/10013136572
their assessment of central bank communication skills and success in conveying objectives as well as the importance of … and their overall communication skills on the one hand, and market participants' perception of the banks' predictability …
Persistent link: https://www.econbiz.de/10011447433
their assessment of central bank communication skills and success in conveying objectives as well as the importance of … and their overall communication skills on the one hand, and market participants' perception of the banks' predictability …
Persistent link: https://www.econbiz.de/10011447633
Monetary policy communication is particularly important during unconventional times, because high uncertainty about the … predictability of policy actions. We study how monetary policy communication should and has worked under such circumstances. Our main …
Persistent link: https://www.econbiz.de/10011663996
Monetary policy communication is particularly important during unconventional times, because high uncertainty about the … predictability of policy actions. We study how monetary policy communication should and has worked under such circumstances. Our main …
Persistent link: https://www.econbiz.de/10011755761
paper studies the implications of using different communication channels: established media outlets versus social media … bank to actively adopt accessible language, simplifted messages and new forms of communication via its Twitter account … share of informed consumers is higher among Twitter users, suggesting potential benefits from Twitter communication with the …
Persistent link: https://www.econbiz.de/10012519956
We ask how central banks can change their communication in order to receive greater newspaper coverage. We write down a … communication in such a way that newspapers choose to report it, while still retaining the message the central bank wishes to convey … measures of news coverage in order to determine what causes central bank communication to be reported on will likely prove to …
Persistent link: https://www.econbiz.de/10013322399