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The aim of this paper is to review the historical development of monetary policy theory since the 1980s using as focal point the nexus among central bank governance, central banker preferences and monetary policy effectiveness. Assuming a positive perspective the review highlights three...
Persistent link: https://www.econbiz.de/10012210748
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
financial market volatility after FOMC meetings. Finally, Fed communication may exert an influence on forecast accuracy. …
Persistent link: https://www.econbiz.de/10011604741
influencing such heterogeneity as Fed communication is found to affect forecast accuracy significantly. …
Persistent link: https://www.econbiz.de/10008533527
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
Reserve (Fed) communication indicators. Econometrically, we employ an ordered probit model of a Taylor rule to explain and … communication indicators in explaining Canadian interest rate decisions …
Persistent link: https://www.econbiz.de/10013151094
Persistent link: https://www.econbiz.de/10012545129
Persistent link: https://www.econbiz.de/10012547590
Monetary Policy Committees differ in the way the interest rate proposal is prepared and presented in the policy meeting. In this paper we show analytically how different arrangements could affect the voting behaviour of individual MPC members and therefore policy outcomes. We then apply our...
Persistent link: https://www.econbiz.de/10003867075