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Managing Financial Market Expectations : The Role of Central Bank Transparency and Central Bank Communication
Neuenkirch, Matthias - 2012
In this paper, we study the influence of central bank transparency and informal central bank communication on the …
Persistent link: https://www.econbiz.de/10013115559
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Toothless tiger with claws? : financial stability communication, expectations, and risk-taking
Beutel, Johannes; Metiu, Norbert; Stockerl, Valentin - In: Journal of monetary economics 120 (2021), pp. 53-69
Persistent link: https://www.econbiz.de/10012603841
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Fed Speak on Main Street : Central Bank Communication and Household Expectations
Binder, Carola - 2017
Central banks emphasize the use of communication as a tool of monetary policy. As central banks increasingly recognize … tailor their communication strategies for a broader audience. Most research focuses on central bank communication with … financial markets, but several recent strands of literature address aspects of communication with households. I survey the …
Persistent link: https://www.econbiz.de/10012969118
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Complexity of ECB communication and financial market trading
Hayo, Bernd; Henseler, Kai; Rapp, Marc Steffen - 2019
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 Council press conferences covered unconventional...
Persistent link: https://www.econbiz.de/10012039675
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Are Survey Expectations Theory-Consistent? The Role of Central Bank Communication and News
Dräger, Lena - 2015
In this paper we analyze whether central bank communication can facilitate the understanding of key economic concepts … Fisher Equation, the Taylor rule and the Phillips curve and test, by accounting for three different communication channels … evidence that central bank communication as well as news on monetary policy can facilitate the understanding of those concepts …
Persistent link: https://www.econbiz.de/10013021981
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Are Survey Expectations Theory-Consistent? The Role of Central Bank Communication and News
Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2021
In this paper we analyze whether central bank communication can facilitate the understanding of key economic concepts … Fisher Equation, the Taylor rule and the Phillips curve and test, by accounting for three different communication channels … evidence that central bank communication as well as news on monetary policy can facilitate the understanding of those concepts …
Persistent link: https://www.econbiz.de/10014088086
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Central Bank Transparency and Financial Market Expectations : The Case of Emerging Markets
Neuenkirch, Matthias - 2013
In this paper, we study how central bank transparency influences the formation of money market expectations in emerging markets. The sample covers 25 countries for the period from January 1998 to December 2009. We find, first, that transparency reduces the bias (the difference between the money...
Persistent link: https://www.econbiz.de/10013092453
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Central Bank Transparency and Financial Market Expectations : The Case of Emerging Markets
Neuenkirch, Matthias - 2015
In this paper, we study how central bank transparency influences the formation of money market expectations in emerging markets. The sample covers 25 countries for the period from January 1998 to December 2009. We find, first, that transparency reduces the bias (the difference between the money...
Persistent link: https://www.econbiz.de/10013013746
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Toothless tiger with claws? Financial stability communication, expectations, and risk-taking
Beutel, Johannes; Metiu, Norbert; Stockerl, Valentin - 2021
We study the effects of central bank communication about financial stability on individuals' expectations and risk …-taking. Using a randomized information experiment, we show that communication causally affects individuals' beliefs and investment … behavior, consistent with an expectations channel of financial stability communication. Individuals receiving a warning from …
Persistent link: https://www.econbiz.de/10012490463
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Can more public information raise uncertainty? : the international evidence on forward guidance
Ehrmann, Michael; Gaballo, Gaetano; Hoffmann, Peter; … - 2019
Central banks have used different types of forward guidance, where the forward guidance horizon is related to a state contingency, a calendar date or left open-ended. This paper reports cross-country evidence on the impact of these different types of forward guidance on the sensitivity of bond...
Persistent link: https://www.econbiz.de/10011997441