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Geraats, Petra Maria - 2009

Transparency has become a prominent feature of monetary policy. This paper provides an overview of central bank … communication practices and is the first to systematically analyze transparency trends throughout the world and across monetary … inflation and economic development have undergone larger increases in transparency. Moreover, it shows that greater transparency …

Persistent link: https://www.econbiz.de/10010274045

How avoiding overreaction to public information? Some insights on central bank communication practices

Trabelsi, Emna - 2012

It is argued in literature that transparency may be detrimental to welfare. Morris and Shin (2002) suggest reducing the …

Persistent link: https://www.econbiz.de/10011496184

Monetary policy communication in Turkey

Demiralp, Selva; Kara, Hakan; Özlü, Pınar - In: European Journal of Political Economy 28 (2012) 4, pp. 540-556

This paper assesses the effectiveness of monetary policy communication of the Central Bank of Turkey (CBT) by quantifying the information content of its policy statements released right after the monthly Monetary Policy Committee meetings. First, we quantify the signal regarding the next...

Persistent link: https://www.econbiz.de/10011056257

Interpreting how others interpret it: Social value of public information

Gizatulina, Alia - 2012

This paper studies the social value of public information in environments without common knowledge of data-generating process. We show that the stronger is the coordination motive behind agents behaviour, the more they would like to interpret private or public signals in the way that they...

Persistent link: https://www.econbiz.de/10010281863

Wondering how others interpret it: Social value of public information

Gizatulina, Alia - 2013

This paper studies the social value of public information in environments without common knowledge of the data-generating process. We show that the stronger the coordination motive behind agents' behaviour is, the more they use private or public signals in the way that they suspect others are...

Persistent link: https://www.econbiz.de/10010323848

Gauging the effectiveness of quantitative forward guidance: evidence from three inflation targeters

Andersson, Magnus; Hofmann, Boris - European Central Bank - 2009

This paper conducts a comparative analysis of the performances of the forward guidance strategies adopted by the Reserve Bank of New Zealand, the Norges Bank and the Riksbank, with the aim to gauge whether forward guidance via publication of an own interest rate path enhances a central bank’s...

Persistent link: https://www.econbiz.de/10008477228

The role of central bank transparency for guiding private sector forecasts

Ehrmann, Michael; Eijffinger, Sylvester; Fratzscher, Marcel - European Central Bank - 2010

expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional … forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies. It … finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …

Persistent link: https://www.econbiz.de/10008545908

The role of central bank transparency for guiding private sector forecasts

Ehrmann, Michael; Eijffinger, Sylvester C W; … - C.E.P.R. Discussion Papers - 2009

Persistent link: https://www.econbiz.de/10008458290

News and Interest Rate Expectations: A Study of Six Central Banks

Connolly, Ellis; Kohler, Marion - Reserve Bank of Australia

Persistent link: https://www.econbiz.de/10005423394

A Perspective on Monetary Policy Transparency and Communication

Edey, Malcolm; Stone, Andrew - Reserve Bank of Australia

Persistent link: https://www.econbiz.de/10005423398