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macroeconomic factors or macro-risk on the yield curve of the SUN bond. Methodology - The type of data used in this study is … foreign exchange reserves effect inversely on the yield curve. The BI rate, inflation rate, and oil price have a positive … effect on yield significantly. Furthermore, the current account deficit has no significant impact on the yield curve for the …
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In this paper, we analyze the relationship between certain characteristics of incumbent central bank governors and their interest-rate-setting behavior. We focus on (i) occupational backgrounds, (ii) party affiliation, and (iii) experience in office and estimate augmented Taylor rules for 20...
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In the past few years, the Federal Open Market Committee (FOMC) has been using forward guidance about the federal funds rate in a more explicit way than ever before. This paper explores the market reaction to the forward guidance, with particular focus on the use of calendar dates and economic...
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This paper examines the role of central bank governors in monetary policy decisions taken by a committee. To carry out this analysis, we constructed a novel dataset of committee voting behaviour for six OECD countries for up to three decades. Using a range of Taylor-rule specifications, we show...
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