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Just words?: a quantitative analysis of the communication of the Central Bank of Brazil

Carvalho, Carlos Viana de; Cordeiro, Fernando; Vargas, … - 2013

We quantify the informational content of statements issued by the interest-rate setting committee of the Central Bank of Brazil (COPOM), building on the methodology developed by Lucca and Trebbi (2011). Using Google search queries, we measure the extent to which each COPOM statement is perceived...

Persistent link: https://www.econbiz.de/10010199541

Measuring the effect of the zero lower bound on monetary policy

Carvalho, Carlos Viana de; Hsu, Eric; Nechio, Fernanda - 2016

how the ZLB affected the Fed's ability to conduct policy, we estimate the effects of Fed communication on yields of … different maturities in the pre-ZLB and ZLB periods. Before the ZLB period, communication affects both short- and long …-dated yields. In contrast, during the ZLB period, the reaction of yields to communication is concentrated in longer-dated yields …

Persistent link: https://www.econbiz.de/10011456500

Measuring the effect of the Zero Lower Bound on monetary policy

Carvalho, Carlos Viana de; Hsu, Eric; Nechio, Fernanda - 2016

Persistent link: https://www.econbiz.de/10011532429

Do people understand monetary policy?

Carvalho, Carlos Viana de; Nechio, Fernando - 2013

We combine questions from the Michigan Survey about the future path of prices, interest rates, and unemployment to investigate whether households are aware of the basic features of U.S. monetary policy. Our ndings support the view that at least some groups of households form their expectations...

Persistent link: https://www.econbiz.de/10010199536