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Demiray, Gamze; Onder, Yasin Kursat; Unalmis, Ibrahim - Türkiye Cumhuriyet Merkez Bankası - 2014

Until about more than a decade ago, central banks were traditionally run by individual governors. However that trend has changed and countries have started to establish monetary policy committees. Potential disadvantage of an individualistic committee (i.e., through voting) over collegial...

Persistent link: https://www.econbiz.de/10010941495

Monetary Policy by Committee: Why and How?

Blinder, Alan - de Nederlandsche Bank - 2006

Among the most notable, but least discussed, hallmarks of what I have called the "quiet revolution" in central banking practice (Blinder, 2004a) has been the movement toward making monetary policy decisions by committee. Until about a decade ago, most central banks had a single governor, who...

Persistent link: https://www.econbiz.de/10005106645

Strategic Central Bank Communication : Discourse and Game -Theoretic Analyses of the Bank of Japan's Monthly Report

Kawamura, Kohei - 2016

expressions. Using a simple persuasion game, we argue that the use of ambiguity in communication by the central bank can be seen …

Persistent link: https://www.econbiz.de/10012996817

¿Responde el Banco de la República a los movimientos en la tasa de cambio real?

Saavedra, Egberto Alexander Riveros - In: ENSAYOS SOBRE POLÍTICA ECONÓMICA (2012)

consiste en un modelo de elección discreta (probit dinámico) que considera los cambios discretos y poco frecuentes en la tasa …

Persistent link: https://www.econbiz.de/10011152868

Evaluating Changes In The Bank Of Spain's Intervention: An Alternative Approach Using Marked Point Processes

Dolado, Juan J.; María-Dolores, Ramón - C.E.P.R. Discussion Papers - 2000

In this paper we provide empirical evidence on the determinants of the monetary policy stance by the Bank of Spain over the period 1984-1998, by means of modelling a marked point process explaining the probability of an intervention at each point in time (events) and the size of these...

Persistent link: https://www.econbiz.de/10005136769

Why Do Politicians Implement Central Bank Independence Reforms?

Daunfeldt, Sven-Olov; Hellström, Jörgen; Landström, Mats - Institutionen för Nationalekonomi, Umeå Universitet - 2008

It is something of a puzzle that politicians around the world have chosen to give up power to independent central banks, thereby reducing their possibilities to fine-tune the economy. In this paper the determinants of central bank independence (CBI) reforms are studied using a new data set on...

Persistent link: https://www.econbiz.de/10005198003

Spread the word : international spillovers from central bank communication

Armelius, Hanna; Bertsch, Christoph; Hull, Isaiah; … - 2018

central banks. Overall, our results suggest that central bank communication contains systematic biases that could lead to …

Persistent link: https://www.econbiz.de/10011911134

Just words?: a quantitative analysis of the communication of the Central Bank of Brazil

Carvalho, Carlos Viana de; Cordeiro, Fernando; Vargas, … - 2013

We quantify the informational content of statements issued by the interest-rate setting committee of the Central Bank of Brazil (COPOM), building on the methodology developed by Lucca and Trebbi (2011). Using Google search queries, we measure the extent to which each COPOM statement is perceived...

Persistent link: https://www.econbiz.de/10010199541

Between hawks and doves : measuring central bank communication

Tobback, Ellen; Nardelli, Stefano; Martens, David - 2017

that communication plays a significant role in enhancing the accuracy when trying to estimate the bank's reaction function. …

Persistent link: https://www.econbiz.de/10011669467

Monetary policy communication : evidence from survey data

Popovska-Kamnar, Neda - 2017

This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central … transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …

Persistent link: https://www.econbiz.de/10011717595