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The dire effects of the lack of monetary and fiscal coordination
Bianchi, Francesco; Melosi, Leonardo - 2017
What happens if the government's willingness to stabilize a large stock of debt is waning, while the central bank is adamant about preventing a rise in inflation? The large fiscal imbalance brings about inflationary pressures, triggering a monetary tightening, further debt accumulation, and...
Persistent link: https://www.econbiz.de/10012030336
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Monetary policy committee transparency: Measurement, determinants, and economic effects
Hayo, Bernd; Mazhar, Ummad - 2011
This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers' educational and professional backgrounds as disclosed through central bank websites. Based on a novel cross-sectional data set covering 75 central banks, we investigate the...
Persistent link: https://www.econbiz.de/10010286350
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Monetary policy committee transparency : measurement, determinants, and economic effects
Hayo, Bernd; Mazhar, Ummad - 2011 - This version: 28 September 2011
This paper studies monetary policy committee transparency (MPCT) based on a new index that measures central bankers' educational and professional backgrounds as disclosed through central bank websites. Based on a novel cross-sectional data set covering 75 central banks, we investigate the...
Persistent link: https://www.econbiz.de/10009305845
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Signaling effects of monetary policy
Melosi, Leonardo - 2016
We develop a dynamic general equilibrium model in which the policy rate signals the central bank's view about macroeconomic developments to price setters. The model is estimated with likelihood methods on a U.S. data set that includes the Survey of Professional Forecasters as a measure of price...
Persistent link: https://www.econbiz.de/10011559878
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Signaling Effects of Monetary Policy
Melosi, Leonardo - 2016
We develop a dynamic general equilibrium model in which the policy rate signals the central bank's view about macroeconomic developments to price setters. The model is estimated with likelihood methods on a U.S. data set that includes the Survey of Professional Forecasters as a measure of price...
Persistent link: https://www.econbiz.de/10012979125
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Signaling Effects of Monetary Policy
Melosi, Leonardo - 2013
We develop a DSGE model in which the policy rate signals to price setters the central bank's view about macroeconomic developments. The model is estimated with likelihood methods on a U.S. data set that includes the Survey of Professional Forecasters as a measure of price setters' inflation...
Persistent link: https://www.econbiz.de/10013080066
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The dire effects of the lack of monetary and fiscal coordination
Bianchi, Francesco; Melosi, Leonardo - 2017
What happens if the government's willingness to stabilize a large stock of debt is waning, while the central bank is adamant about preventing a rise in inflation? The large fiscal imbalance brings about inflationary pressures, triggering a monetary tightening, further debt accumulation, and...
Persistent link: https://www.econbiz.de/10011774982
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Can more public information raise uncertainty? : the international evidence on forward guidance
Ehrmann, Michael; Gaballo, Gaetano; Hoffmann, Peter; … - 2019
signals and, as a consequence, may increase uncertainty and amplify the reaction of expectations to macroeconomic news …. However, when the increase in precision of public information is sufficiently large, uncertainty is unambiguously reduced. …
Persistent link: https://www.econbiz.de/10011997441
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Subjective models of the macroeconomy: evidence from experts and representative samples
Andre, Peter; Pizzinelli, Carlo; Roth, Christopher; … - 2021
measure beliefs about the effects of macroeconomic shocks on unemployment and inflation, providing respondents with identical …,500 US households and 1,500 experts, beliefs are widely dispersed, even about the directional effects of shocks, and there are … large differences in average beliefs between households and experts. Part of this disagreement seems to arise from selective …
Persistent link: https://www.econbiz.de/10012663050
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Africa’s Resilience in the Face of COVID-19 Pandemic : Let’s Talk about It!
Arakpogun, Emmanuel; El Sahn, Ziad; Prime, Karla Simone; … - 2020
Following the initial outbreak of COVID-19, the United Nations and other established bodies and public figures predicated ‘tens’ of millions of deaths across Africa due to their weak healthcare systems and critical infrastructure. So far, it appears that Africa is leveraging on local...
Persistent link: https://www.econbiz.de/10014095566