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Does FOMC communication help predicting federal funds target rate changes?

Hayo, Bernd; Neuenkirch, Matthias - 2009

We explain changes in the federal funds target rate using macroeconomic variables and Federal Open Market Committee …

Persistent link: https://www.econbiz.de/10003852257

Money in monetary policy design : monetary cross-checking in the New-Keynesian Model

Beck, Günter W.; Wieland, Volker - 2009

In the New-Keynesian model, optimal interest rate policy under uncertainty is formulated without reference to monetary aggregates as long as certain standard assumptions on the distributions of unobservables are satisfied. The model has been criticized for failing to explain common trends in...

Persistent link: https://www.econbiz.de/10003887442

Money in monetary policy design : monetary cross-checking in the New-Keynesian model

Beck, Günter W.; Wieland, Volker - 2010

Persistent link: https://www.econbiz.de/10003973215

Monetary transmission right from the start : the (dis)connection between the money market and the ECB’s main refinancing rates

Abbassi, Puriya; Nautz, Dieter - 2010

The relation between the ECB’s main refinancing (MRO) rates and the money market is key for the monetary transmission … process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO … disconnection of money market rates from the policy-intended interest rate level. These findings support the fixed rate full …

Persistent link: https://www.econbiz.de/10003953030

Monetary transmission right from the start : the (dis)connection netween the money market and the ECB’s main refinancing rates

Abbassi, Puriya; Nautz, Dieter - 2010

The relation between the ECB's main refinancing (MRO) rates and the money market is key for the monetary transmission … process in the euro area. This paper investigates how money market rates respond to the new information revealed by MRO … disconnection of money market rates from the policy-intended interest rate level. These findings support the fixed rate full …

Persistent link: https://www.econbiz.de/10003962841

Monetary transmission right from the start : on the information content of the eurosystem’s main refinancing operations

Abbassi, Puriya; Nautz, Dieter - 2011

The Eurosystem’s main refinancing operations (MRO) are key for the interbank money market and the monetary transmission … process in the euro area. This paper investigates how money market rates respond to the information revealed by various … aspects of an MRO auction outcome. Our results confirm that the level of MRO rates governed short-term money market rates …

Persistent link: https://www.econbiz.de/10009373439

Impact of US quantitative easing policy on emerging Asia

Morgan, Peter J. - 2011

The adoption of quantitative easing (QE) policy by the United States (US) Federal Reserve Bank since early 2009 has aroused widespread concerns in Asia and elsewhere regarding its possible impact in terms of the weakening of the US dollar and stimulating capital outflows to emerging economies...

Persistent link: https://www.econbiz.de/10009379704

Interest rate expectations and uncertainty during ECB governing council days : evidence from intraday implied densities of 3-month Euribor

Vergote, Olivier; Puigvert Gutiérrez, Josep Maria - 2011

estimate intraday expectations of threemonth EURIBOR three months ahead. The estimator proves to be robust to market … repositioning of market participants’ expectations will contain information beyond that of changes in the consensus view already …

Persistent link: https://www.econbiz.de/10009380949

Transmission of monetary policy through capital inflows to emerging markets

Olani, Adugna - 2016

In this paper, I examine the effects of advanced economies' conventional monetary policy on gross foreign direct and portfolio investment inflows to emerging economies. I use structural vector autoregressions to analyse and compare the response of each inflow category to world interest rate and...

Persistent link: https://www.econbiz.de/10011443289

Starting from a blank page? : semantic similarity in central bank communication and market volatility

Ehrmann, Michael; Talmi, Jonathan - 2016

of central banks. Because of their market-moving potential, it is particularly important how they are drafted. Often … more difficult to absorb. At the same time, while press releases that are similar to the previous one generate less market …

Persistent link: https://www.econbiz.de/10011517131