Managing Financial Market Expectations: The Role of Central Bank Transparency and Central Bank Communication

Managing Financial Market Expectations: The Role of Central Bank Transparency and Central Bank Communication

In this paper, we study the influence of central bank transparency and informal central bank communication on the formation of money market expectations. The sample covers nine major central banks from January 1999 to July 2007. We find, first, that transparency reduces the bias in money market expe...

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Pubblicato in:MAGKS - Joint Discussion Paper Series in Economics (Band 28-2010)
Autore principale: Neuenkirch, Matthias
Natura: Arbeit
Lingua:inglese
Pubblicazione: Philipps-Universität Marburg 2010
Soggetti:
Wirtschaft
Central Bank Transparency
Interest Rate Decision
Financial Market Expectations
Monetary Policy
Central Bank Communication
Money Market
Economics
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