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Credibility and transparency of central banks : new results based on Ifo's World Economic Survey

Hamella, Sandra; Haan, Jakob de - In: Ifo survey data in business cycle and monetary policy …, (pp. 203-223). 2004

Persistent link: https://www.econbiz.de/10002391489

Credibility and transparency of central banks : new results based on IFO's world economic survey

Hamella, Sandra; Haan, Jakob de - 2004

This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …

Persistent link: https://www.econbiz.de/10002175358

Social value of public information : testing the limits to transparency

Ehrmann, Michael (contributor); … - 2007

Transparency has become an almost universal virtue among central banks. The paper tests empirically, for the case of the Federal Reserve, two hypotheses about central bank transparency derived from the debate of Morris and Shin (2002) and Svensson (2006). First, the paper finds that the...

Persistent link: https://www.econbiz.de/10003599312

Forward guidance for monetary policy : is it desirable?

Gersbach, Hans; Hahn, Volker - 2008 - This version: April 2008

In this paper we assess whether forward guidance for monetary policy regarding the future path of interest rates is desirable. We distinguish between two cases where forward guidance for monetary policy may be helpful. First, forward guidance may reveal private information of the central bank....

Persistent link: https://www.econbiz.de/10003761386

Are contemporary central banks transparent about economic models and objectives and what differences does it make?

Cukierman, Alex - In: Review / Federal Reserve Bank of St. Louis 84 (2002) 4, pp. 15-35

Persistent link: https://www.econbiz.de/10001781822

Are Contemporary Central Banks Transparent About Economic Models and Objectives and What Difference Does it Make?

Cukierman, Alex - 2016

Persistent link: https://www.econbiz.de/10012991270

The relationship between the federal funds rate and the Fed's federal funds rate target : is it open market or open mouth operations?

Thornton, Daniel L. - 2000

It is widely believed that the Fed controls the funds rate by altering the degree of pressure in the reserve market through open market operations when it changes its target for the federal funds rate. Recently, however, several economists have suggested that open market operations may not be...

Persistent link: https://www.econbiz.de/10011418890

Risk management for monetary policy near the zero lower bound

Evans, Charles; Fisher, Jonas D. M.; Gourio, François; … - 2015

As projections have inflation heading back toward target and the labor market continuing to improve, the Federal Reserve has begun to contemplate an increase in the federal funds rate. There is however substantial uncertainty around these projections. How should this uncertainty affect monetary...

Persistent link: https://www.econbiz.de/10010528289

Generalized stability of monetary unions under regime switching in monetary and fiscal policies

Bonam, Dennis; Hobijn, Bart - 2016

Persistent link: https://www.econbiz.de/10011551832

Forward guidance : a new challenge for central banks ; [contribution to the Athens Symposium "Banking Union, Monetary Policy and Economic Growth" Athens, 19 June 2014]

Issing, Otmar - 2014

In a contribution prepared for the Athens Symposium on “Banking Union, Monetary Policy and Economic Growth”, Otmar Issing describes forward guidance by central banks as the culmination of the idea of guiding expectations by pure communication. In practice, he argues, forward guidance has...

Persistent link: https://www.econbiz.de/10010366280