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countries, we find remarkable differences in forecast accuracy, and show that they are partly related to geography and … involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand … and to anticipate monetary policy by the ECB? Using a database of surveys of professional ECB policy forecasters in 24 …
Persistent link: https://www.econbiz.de/10010299102
. -- monetary policy ; ECB ; forecast ; geography ; history; heterogeneity; Taylor rule ; learning ; transmission ; survey data … countries, we find remarkable differences in forecast accuracy, and show that they are partly related to geography and … involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand …
Persistent link: https://www.econbiz.de/10003370562
countries, we find remarkable differences in forecast accuracy, and show that they are partly related to geography and … involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand … and to anticipate monetary policy by the ECB? Using a database of surveys of professional ECB policy forecasters in 24 …
Persistent link: https://www.econbiz.de/10013318108
countries, we find remarkable differences in forecast accuracy, and show that they are partly related to geography and … involving multiple central banking traditions. How does this heterogeneity affect the ability of economic agents to understand … and to anticipate monetary policy by the ECB? Using a database of surveys of professional ECB policy forecasters in 24 …
Persistent link: https://www.econbiz.de/10008533521
The paper shows that there is a substantial degree of heterogeneity in the ability of Fed watchers to forecast US … influencing such heterogeneity as Fed communication is found to affect forecast accuracy significantly. … monetary policy decisions. Based on a novel database for 268 professional forecasters since 1999, the average forecast error of …
Persistent link: https://www.econbiz.de/10010299141
The paper shows that there is a substantial degree of heterogeneity in forecast accuracy among Fed watchers. Based on a … novel database for 268 professional forecasters since 1999, the average forecast error of FOMC decisions varies 5 to 10 … basis points between the best and worst-performers across the sample. This heterogeneity is found to be related to both the …
Persistent link: https://www.econbiz.de/10011604741
The paper shows that there is a substantial degree of heterogeneity in the ability of Fed watchers to forecast US … influencing such heterogeneity as Fed communication is found to affect forecast accuracy significantly. … monetary policy decisions. Based on a novel database for 268 professional forecasters since 1999, the average forecast error of …
Persistent link: https://www.econbiz.de/10008533527
We examine howthe verbal complexity of ECB communications affectsfi-nancial market trading based on high-frequency data … fromEuropean stock index futures trading. Studying the 34 events between May 2009 and June 2017, during which the ECB Governing …
Persistent link: https://www.econbiz.de/10012039675
This paper shows that uncertainty has an impact on the effectiveness of monetary policy shocks. As uncertainty increases, so does the risk that a restrictive forward guidance shock will increase rather than decrease stock prices. This effect can be seen not only in high-frequency variables, but...
Persistent link: https://www.econbiz.de/10012542948
introductory statements of ECB's Governing Council press conferences to estimate a "shadow prime rate". Based on short-run intraday …
Persistent link: https://www.econbiz.de/10011959752