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Central Bank Transparency and Nonlinear Learning Dynamics

Eusepi, Stefano - 2008

Central bank communication plays an important role in shaping market participants' expectations. This paper studies a simple nonlinear model of monetary policy in which agents have incomplete information about the economic environment. It shows that agents' learning and the dynamics of the...

Persistent link: https://www.econbiz.de/10014214926

Do firm expectations respond to monetary policy announcements?

Di Pace, Federico; Mangiante, Giacomo; Masolo, Riccardo - 2023

We study whether firms' expectations react to the Bank of England's monetary policy announcements by comparing the responses to the Decision Maker Panel (DMP) survey filed immediately before and after a Monetary Policy Committee (MPC) meeting. On the one hand, we find that firms' expectations...

Persistent link: https://www.econbiz.de/10014233608

Breaking monetary policy news : the role of mass media coverage of ECB announcements for public inflation expectations

Hirsch, Patrick; Feld, Lars P.; Köhler, Ekkehard A. - 2023

Using the variation in national television news of four major member states in the Eurozone, we find causal effects of coverage of high-frequency identified monetary policy announcements on households' inflation expectations in an event study and a generalized Difference-in-Differences approach...

Persistent link: https://www.econbiz.de/10013550202

Central bank communication with the general public

Dräger, Lena - 2023

This paper surveys the literature on the role and effects of central bank communication with the general public, particularly regarding the formation of macroeconomic expectations. It starts by giving a brief overview of the recent "communication revolution" in central bank communication. The...

Persistent link: https://www.econbiz.de/10014416131

Breaking Monetary Policy News : The Role of Mass Media Coverage of ECB Announcements for Public Inflation Expectations

Hirsch, Patrick; Feld, Lars P.; Koehler, Ekkehard A. - 2023

Using the variation in national television news of four major member states in the Eurozone, we find causal effects of coverage of high-frequency identified monetary policy announcements on households’ inflation expectations in an event study and a generalized Difference-in-Differences...

Persistent link: https://www.econbiz.de/10014260707

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. Using survey data for consumers and professionals, we calculate how many of them have expectations consistent with the Fisher Equation, the Taylor rule and the Phillips curve...

Persistent link: https://www.econbiz.de/10014088086

Communication of Monetary Policy Decisions by Central Banks : What is Revealed and Why

Settlements, Bank for International - 2013

This Paper, which extends earlier work by Filardo and Guinigundo (2008) and Nelson (2008), reports on a survey conducted in 2007 on the communication practices of 32 members of the Central Bank Governance Network. The questionnaire sent to Network members was divided into two main parts. The...

Persistent link: https://www.econbiz.de/10013095822

A collective household model of time allocation : a comparison of native Dutch and immigrant households in the Netherlands

Klaveren, Chris van (contributor); … - 2006

Although the number of immigrant households in the Netherlands is substantial, the labor supply choices of this group … time to different activities. In order to do so, we empirically estimate a collective household labor supply model. The … main findings are that: (1) Leisure and household income are the most important variables in the utility function of the …

Persistent link: https://www.econbiz.de/10003335454

A collective household model of time allocation : a comparison of native Dutch and immigrant households in the Netherlands

Klaveren, Chris van; Praag, Bernard M. S. van; Maassen … - 2006

Persistent link: https://www.econbiz.de/10011349201

Distortionary company car taxation : deadweight losses through increased car ownership

Ommeren, Jos van; Gutiérrez-i-Puigarnau, Eva - 2011

Persistent link: https://www.econbiz.de/10009720777