Showing 1 - 6 of 6
Persistent link: https://www.econbiz.de/10001801041
While central banks cannot provide complete foresight with respect to their future policy actions, it is in the interests of both central banks and market participants that central banks be transparent about their reaction functions and how they may evolve in response to economic developments,...
Persistent link: https://www.econbiz.de/10011747734
Monetary policy governance - how monetary policy objectives are determined, how decisions are made and who makes them - determines the quality and effectiveness of monetary policy decisions. In this paper, we examine some desirable and some adverse outcomes associated with different governance...
Persistent link: https://www.econbiz.de/10015069703
This paper discusses four potential sources of lag dynamics in inflation: non-rational behavior, staggered contracting, frictions on price adjustment, and shifts in the long-run inflation anchor of agent expectations (the perceived inflation target). Expressions for inflation dynamics from...
Persistent link: https://www.econbiz.de/10014074476
While central banks cannot provide complete foresight with respect to their future policy actions, it is in the interests of both central banks and market participants that central banks be transparent about their reaction functions and how they may evolve in response to economic developments,...
Persistent link: https://www.econbiz.de/10012029810
Monetary policy governance - how monetary policy objectives are determined, how decisions are made and who makes them - determines the quality and effectiveness of monetary policy decisions. In this paper, we examine some desirable and some adverse outcomes associated with different governance...
Persistent link: https://www.econbiz.de/10015126805