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circumstances and contingencies. In this broader sense, longer-term predictability is also closely related to the credibility of the …
Persistent link: https://www.econbiz.de/10011641200
circumstances and contingencies. In this broader sense, longer-term predictability is also closely related to the credibility of the …
Persistent link: https://www.econbiz.de/10012772989
Modern monetary policy focuses on credibility and shaping consumers' inflation expectations. According to the concept …-making process and may be a specific intermediate target. The aim of the study is to analyse the credibility of inflation forecasts … credibility index. The inflation forecasts' credibility index may be calculated for all types of inflation forecasts made by …
Persistent link: https://www.econbiz.de/10011802291
importantly, the additional fiscal conditionality can enhance the credibility of the central bank to achieve price stability. We … emphasize how the level and structure of government debt emerge as key factors affecting the credibility of monetary policy with …
Persistent link: https://www.econbiz.de/10012886819
We investigate whether ideology drives the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the quarterly hearings of the ECB President before the European Parliament from 1999 to 2019. We apply sentiment analysis...
Persistent link: https://www.econbiz.de/10012939688
The paper studies probability forecasts of inflation and GDP by monetary authorities. Such forecasts can contribute to central bank transparency and reputation building. Problems with principal and agent make the usual argument for using scoring rules to motivate probability forecasts confused;...
Persistent link: https://www.econbiz.de/10014050344
This article compares two types of monetary policy rules - the Taylor-Rule and the Orphanides-Rule - with respect to their forecasting properties for the policy rates of the European Central Bank. In this respect the basic rules, results from estimated models and augmented rules are compared....
Persistent link: https://www.econbiz.de/10012063951
-Regel - hinsichtlich ihrer Prognosefähigkeit des Leitzinses der Europäischen Zentralbank miteinander. Es werden die Standardregeln …
Persistent link: https://www.econbiz.de/10012034314
flexibility and credibility; similarly, New Zealand's improved inflation performance was achieved without a discernable increase …
Persistent link: https://www.econbiz.de/10009768267
ambiguity, deteriorate its credibility, undermine its functionality, and propel the monetary policy into a vicious circle. The …
Persistent link: https://www.econbiz.de/10013213539