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Geography or skills: What explains Fed watchers’ forecast accuracy of US monetary policy?
Berger, Helge; Ehrmann, Michael; Fratzscher, Marcel - 2006
novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 … financial market volatility after FOMC meetings. Finally, Fed communication may exert an influence on forecast accuracy. …
Persistent link: https://www.econbiz.de/10011604741
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The sentiment of the Fed
Fuksa, Michel; Sornette, Didier - 2013
Sentiment analysis is applied to the Federal Reserve's documents relating to the Federal Open Market Committee (FOMC …, and is used to estimate the sentiment of the Beige Book and FOMC statements and minutes. Results show that, under … Greenspan's tenure, the sentiment of the Beige Book anticipated the sentiment of the FOMC minutes while, during the Bernanke era …
Persistent link: https://www.econbiz.de/10009721378
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Voting right rotation, behavior of committee members and financial market reactions : evidence from the U.S. Federal Open Market Committee
Ehrmann, Michael; Tietz, Robin; Visser, Bauke - 2021
Whether Federal Reserve Bank presidents have the right to vote on the U.S. monetary policy committee depends on a mechanical, yearly rotation scheme. Rotation is without exclusion: also nonvoting presidents attend and participate in the meetings of the committee. Does voting status change...
Persistent link: https://www.econbiz.de/10012545129
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Voting right rotation, behavior of committee members and financial market reactions : vidence from the U.S. Federal Open Market Committee
Ehrmann, Michael; Tietz, Robin; Visser, Bauke - 2021
Whether Federal Reserve Bank presidents have the right to vote on the U.S. monetary policy committee depends on a mechanical, yearly rotation scheme. Rotation is without exclusion: also nonvoting presidents attend and participate in the meetings of the committee. Does voting status change...
Persistent link: https://www.econbiz.de/10012547590
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Central banks' predictability : an assessment by financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2016 - This version: 3 April 2016
In this paper, we examine the relationship between market participants' perception of central bank predictability and their assessment of central bank communication skills and success in conveying objectives as well as the importance of transparency-enhancing measures, such as voting records,...
Persistent link: https://www.econbiz.de/10011447433
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Central banks' predictability : an assessment by financial market participants
Hayo, Bernd; Neuenkirch, Matthias - 2016 - This version: 6 April 2016
In this paper, we examine the relationship between market participants' perception of central bank predictability and their assessment of central bank communication skills and success in conveying objectives as well as the importance of transparencyenhancing measures, such as voting records,...
Persistent link: https://www.econbiz.de/10011447633
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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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International spillovers of monetary policy : US Federal Reserve's quantitative easing and Bank of Japan's quantitative and qualitative qasing
Kawai, Masahiro - 2015
This paper assesses the impact of unconventional United States (US) and Japanese monetary policies on emerging economies, and explores policy coordination issues to promote macroeconomic and financial stability in developed and emerging economies. The paper first considers a theoretical...
Persistent link: https://www.econbiz.de/10010465407
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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 Eastern and South-Eastern Europe and the euro area. The main objective of this Survey was to draw evidence on the level of transparency and communication strategies of the...
Persistent link: https://www.econbiz.de/10011717595
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Central bank capital as an instrument of monetary policy
Hampl, Mojmír; Havránek, Tomáš - 2018
We examine the use of central bank capital as an unconventional monetary policy tool. In this setting, a central bank employs digital currency to transfer digital cash to each household, thus supporting consumption directly when needed. The asset side of the central bank's balance sheet remains...
Persistent link: https://www.econbiz.de/10011906669