Do Federal Reserve Communications Help Predict Federal Funds Target Rate Decisions?

Do Federal Reserve Communications Help Predict Federal Funds Target Rate Decisions?

We explain federal funds target rate decisions using macroeconomic variables and Federal Reserve communication indicators. Econometrically, we employ an ordered probit model of a Taylor rule to predict 75 target rate decisions between 1998 and 2006. We find, first, that our communication indicators...

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Veröffentlicht in:MAGKS - Joint Discussion Paper Series in Economics (Band 25-2009)
Autoren: Hayo, Bernd, Neuenkirch, Matthias
Format: Arbeit
Sprache:Englisch
Veröffentlicht: Philipps-Universität Marburg 2009
Schlagworte:
Wirtschaft
Federal Funds Target Rate
Federal Reserve Bank
Taylor Rule
Central Bank Communication
Interest Rate Decision, Monetary Policy
Economics
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MAGKS - Joint Discussion Paper Series in Economics

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