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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Published in: | MAGKS - Joint Discussion Paper Series in Economics (Band 25-2009) |
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Main Authors: | , |
Format: | Work |
Language: | English |
Published: |
Philipps-Universität Marburg
2009
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Subjects: | |
Online Access: | PDF Full Text |
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