Svensson (2006). First, the paper finds that the precision of communication is a key determinant of the predictability of both … FOMC decisions as well as the future policy path. Second, the effectiveness of communication is found to depend on the …Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of …

Despite substantial differences in monetary policy and communication strategies, many central banks share the practice … of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events …. This practice is remarkable, as it seems to contradict the virtue of transparency by requiring central banks to withhold …

Despite substantial differences in monetary policy and communication strategies, many central banks share the practice … of purdah, a self-imposed guideline of abstaining from communication around policy meetings or other important events …. This practice is remarkable, as it seems to contradict the virtue of transparency by requiring central banks to withhold …

Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking …The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …

the diversity of views on the economic outlook that enhance the effectiveness of central bank communication. …The paper shows that central bank communication is a key determinant of the market’s ability to anticipate monetary … policy decisions and the future path of interest rates. Comparing communication policies by the Federal Reserve, the Bank of …

Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking …The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …

the diversity of views on the economic outlook that enhance the effectiveness of central bank communication. JEL …The paper shows that central bank communication is a key determinant of the market’s ability to anticipate monetary … policy decisions and the future path of interest rates. Comparing communication policies by the Federal Reserve, the Bank of …

forecasters. The FOMC's shift towards more transparency in 1994 had an impact on how members revised their forecasts and …