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China's monetary policy communication : frameworks, impact, and recommendations
McMahon, Michael; Schipke, Alfred; Li, Xiang - 2018
Financial markets are eager for any signal of monetary policy from the People's Bank of China (PBC). The importance of … effective monetary policy communication will only increase as China continues to liberalize its financial system and open its …
Persistent link: https://www.econbiz.de/10011978360
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China's Monetary Policy Communication : Money Markets Not Only Listen, They Also Understand
García-Herrero, Alicia - 2013
the People's Bank of China (PBoC) should be a key question for the central bank in modernising its monetary policy toolkit …. In this paper, we tackle this issue empirically and find that China's money markets not only listen to the PBoC's words … evidence of effective oral and written communication by the PBoC aimed at China's money markets …
Persistent link: https://www.econbiz.de/10013088418
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ECB vs Bundesbank : diverging tones and policy effectiveness
Tillmann, Peter; Walter, Andreas - 2018
The present paper studies the consequences of conflicting narratives for the transmission of monetary policy shocks. We focus on conflict between the presidents of the ECB and the Bundesbank, the main protagonists of monetary policy in the euro area, who often disagreed on policy over the past...
Persistent link: https://www.econbiz.de/10011858943
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Effects of ECB balance sheet policy announcements on inflation expectations
Moessner, Richhild - 2014
Persistent link: https://www.econbiz.de/10010258404
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Effects of ECB balance sheet policy announcements on inflation expectations
Moessner, Richhild - In: Applied economics letters 22 (2015) 4/6, pp. 483-487
Persistent link: https://www.econbiz.de/10010507843
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Spread the word : international spillovers from central bank communication
Armelius, Hanna; Bertsch, Christoph; Hull, Isaiah; … - 2018
We use text analysis and a novel dataset to measure the sentiment component of central bank communications in 23 countries over the 2002-2017 period. Our analysis yields three key results. First, using directed networks, we show that comovement in sentiment across central banks is not reducible...
Persistent link: https://www.econbiz.de/10011911134
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Spread the word: international spillovers from central bank communication
Armelius, Hanna; Bertsch, Christoph; Hull, Isaiah; … - 2019
Persistent link: https://www.econbiz.de/10012131188
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Interest rate dynamics, interest rate expectations and the operational framework of central banks
Schmidt, Sandra - 2010
Persistent link: https://www.econbiz.de/10008655878
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Are contemporary central banks transparent about economic models and objectives and what difference does it make?
Cukierman, Alex - 2001
This paper documents the opaqueness of central banks about the economic models they use to choose policy but argues that this is largely due to the lack of consensus about the correct model of the economy within the economic profession. The latter is illustrated by contrasting three currently...
Persistent link: https://www.econbiz.de/10011419304
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Central bank transparency and the interest rate channel : evidence from emerging economies
Papadamou, Stephanos; Sidiropoulos, Moïse; … - In: Economic modelling 48 (2015), pp. 167-174
Persistent link: https://www.econbiz.de/10011452514