Results 1 - 10 of 367

Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence

by Alan S. Blinder, Michael Ehrmann, Marcel Fratzscher, Jakob De Haan, Alan S. Blinder, Michael Ehrmann, Marcel Fratzscher, Jakob De Haan, David-jan Jansen - Journal of Economic Literature , 2008
"... In 2008 all ECB publications feature a motif taken from the 10 banknote. This paper can be downloaded without charge from ..."
Abstract - Cited by 151 (17 self) - Add to MetaCart
In 2008 all ECB publications feature a motif taken from the 10 banknote. This paper can be downloaded without charge from

Central Bank Communication and Expectations

by Stefano Eusepi, Bruce Preston Y , 2007
"... This paper analyzes the value of communication in the implementation of monetary policy. The central bank is uncertain about the current state of the economy. Households and …rms do not have a complete economic model of the determination of aggregate variables, including nominal interest rates, and ..."
Abstract - Cited by 1 (0 self) - Add to MetaCart
This paper analyzes the value of communication in the implementation of monetary policy. The central bank is uncertain about the current state of the economy. Households and …rms do not have a complete economic model of the determination of aggregate variables, including nominal interest rates

and Central Bank Communication

by Byoung-ki Kim, Cheong-seok Chang, Donghun Joo, Junhan Kim, Ho Kim, Hwayun Lee, Won Shim, Jae Ho Yun, Especially Kyuil Chung, Seung Je Hong , 2010
"... The views expressed herein are those of the author and do not necessarily reflect the official views of the Bank of Korea. When reporting or citing it, the author’s name should always be stated explicitly. ..."
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The views expressed herein are those of the author and do not necessarily reflect the official views of the Bank of Korea. When reporting or citing it, the author’s name should always be stated explicitly.

Imperfect Knowledge, Inflation Expectations, and Monetary Policy

by Athanasios Orphanides, John C. Williams - SUMMARY OF THE DISCUSSION CHARLES BEAN (LONDON SCHOOL OF ECONOMICS) DOUBTED THE , 2003
"... This paper investigates the role that imperfect knowledge about the structure of the economy plays in the formation of expectations, macroeconomic dynamics, and the efficient formulation of monetary policy. Economic agents rely on an adaptive learning technology to form expectations and to update co ..."
Abstract - Cited by 131 (15 self) - Add to MetaCart
in the United States during the 1970s. Our results highlight the value of effective communication of a central bank’s inflation objective and of continued vigilance against inflation in anchoring inflation expectations and fostering macroeconomic stability.

Whom You Know Matters: Venture Capital Networks and Investment Performance,

by Yael Hochberg , Alexander Ljungqvist , Yang Lu , Steve Drucker , Jan Eberly , Eric Green , Yaniv Grinstein , Josh Lerner , Laura Lindsey , Max Maksimovic , Roni Michaely , Maureen O'hara , Ludo Phalippou Mitch Petersen , Jesper Sorensen , Per Strömberg Morten Sorensen , Yael Hochberg , Johnson - Journal of Finance , 2007
"... Abstract Many financial markets are characterized by strong relationships and networks, rather than arm's-length, spot-market transactions. We examine the performance consequences of this organizational choice in the context of relationships established when VCs syndicate portfolio company inv ..."
Abstract - Cited by 138 (8 self) - Add to MetaCart
Capital, Networks, Syndication, Investment Performance JEL classification: G24, L14. Networks are widespread in many financial markets. Bulge-bracket investment banks, for instance, have strong relationships with institutional investors which they make use of when pricing and distributing corporate

Central bank communication and expectations stabilization

by Stefano Eusepi, Bruce Prestony - American Economic Association , 2010
"... This paper analyzes the value of communication in the implementation of monetary policy. The central bank is uncertain about the current state of the economy. House-holds and …rms are uncertain about the statistical properties of aggregate variables, including nominal interest rates, and must learn ..."
Abstract - Cited by 8 (3 self) - Add to MetaCart
This paper analyzes the value of communication in the implementation of monetary policy. The central bank is uncertain about the current state of the economy. House-holds and …rms are uncertain about the statistical properties of aggregate variables, including nominal interest rates, and must learn

Central Bank Communication and Multiple Equilibria

by Kozo Ueda - International Journal of Central Banking
"... In this paper, we construct a simple model for communication between a central bank and money-market traders. It is demonstrated that there are multiple equilibria. In one equilibrium, traders truthfully reveal their own information, and by learning this, the central bank can make better forecasts. ..."
Abstract - Cited by 2 (0 self) - Add to MetaCart
In this paper, we construct a simple model for communication between a central bank and money-market traders. It is demonstrated that there are multiple equilibria. In one equilibrium, traders truthfully reveal their own information, and by learning this, the central bank can make better forecasts

CENTRAL BANK COMMUNICATION ON FISCAL POLICY

by Julien Allard, Marco Catenaro, Jean-pierre Vidal, Guido Wolswijk, Julien Allard, Marco Catenaro, Jean-pierre Vidal, Guido Wolswijk , 1477
"... NOTE: This Working Paper should not be reported as representing the views of the European Central Bank (ECB). The views expressed are those of the authors and do not necessarily reflect those of the ECB. Acknowledgements We are grateful to P. Koerbitz for providing a PERL algorithm that eased constr ..."
Abstract - Cited by 1 (0 self) - Add to MetaCart
construction of the fiscal communication indicator. Moreover, comments by M. Ehrmann, P. Jonasson, J. Marin, as well as an anonymous referee are gratefully acknowledged. The views expressed in this paper are the ones of the authors and do not necessarily represent those of the European Central Bank (ECB).

Central Bank Communication and the Financial Markets

by Alan S. Blinder , 2008
"... Central banks, which used to be so secretive, are communicating more and more these days about their monetary policy. This development has proceeded hand in glove with a burgeoning new scholarly literature on the subject. The empirical evidence, reviewed selectively here, suggests that communication ..."
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Central banks, which used to be so secretive, are communicating more and more these days about their monetary policy. This development has proceeded hand in glove with a burgeoning new scholarly literature on the subject. The empirical evidence, reviewed selectively here, suggests

Central Bank’s Action and Communication

by Munich Discussion, Volkswirtschaftliche Fakultät, Romain Baeriswyl
"... This paper contributes to the ongoing debate about the welfare effect of public information. In an environment characterized by imperfect com-mon knowledge and strategic complementarities, Morris and Shin (2002) argue that noisy public information may be detrimental to welfare because public informa ..."
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information is attributed too large a weight relative to its face value since it serves as a focal point. While this argument has received a great deal of attention in central banks and in the financial press, it considers communication as the sole task of a central bank and ignores that commu-nication
Results 1 - 10 of 367