Testing for the rationality of central bank interest rate forecasts
Sign Up to like & getrecommendations! Published in 2021 at "Empirical Economics"
DOI: 10.1007/s00181-021-02046-y
Abstract: In this paper, we study the bias in interest rate projections of five central banks, namely the central banks of the Czech Republic, New Zealand, Norway, Sweden, and the USA. We examine whether central bank… read more here.
Keywords: central banks; central bank; interest; rate forecasts ... See more keywords
Populism and Central Bank Independence: Comment
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DOI: 10.1007/s11079-018-9497-9
Abstract: Goodhart and Lastra (Open Econ Rev 29:49–68, 2018) lay out the mechanisms through which populist political movements may affect central bank independence. This paper provides the first empirical evidence that one aspect commonly attributed to… read more here.
Keywords: populism central; central bank; bank independence;
Earthquakes and Economic Outcomes: Does Central Bank Independence Matter?
Sign Up to like & getrecommendations! Published in 2020 at "Open Economies Review"
DOI: 10.1007/s11079-020-09593-4
Abstract: This study explores whether the degree of central bank independence influences the economic performance in the period immediately following an earthquake. Earthquakes create a classic monetary policy challenge: how to accommodate the real shock in… read more here.
Keywords: independent central; central bank; earthquakes economic; bank ... See more keywords
How effective is central bank communication in emerging economies? An empirical analysis of the chinese money markets responses to the people’s bank of China’s policy communications
Sign Up to like & getrecommendations! Published in 2019 at "Review of Quantitative Finance and Accounting"
DOI: 10.1007/s11156-019-00822-7
Abstract: Central banks, in both developed and developing economies, are responding to the increased demand for transparency in monetary policy formulation and implementation. It is argued that central bank communication enhances market efficiency and calms down… read more here.
Keywords: bank; central bank; communication; policy ... See more keywords
A systematic framework to understand central bank digital currency
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DOI: 10.1007/s11432-017-9294-5
Abstract: The ongoing research and development of digital fiat currency (DFC) have triggered attention of policy makers, regulators and the industrial and academic communities. But there is not yet a clear idea and blueprint of what… read more here.
Keywords: central bank; currency; framework understand; systematic framework ... See more keywords
Economic policy responses to the COVID-19 pandemic: The role of central bank independence
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DOI: 10.1016/j.econlet.2021.109874
Abstract: Abstract Is central bank independence (CBI) associated with economic policy responses to mitigate the adverse economic effects of the COVID 19 pandemic? In this paper, we provide cross-country evidence that it does. Our results generally… read more here.
Keywords: central bank; policy; economic policy; bank independence ... See more keywords
Do the central bank actions reduce interest rate volatility
Sign Up to like & getrecommendations! Published in 2017 at "Economic Modelling"
DOI: 10.1016/j.econmod.2017.05.016
Abstract: This paper investigates how Central Bank of Brazil (CBB) actions influence market uncertainty. We consider two kinds of actions: the monetary policy decision about the interest rate target and the pure communication event of this… read more here.
Keywords: central bank; reduce interest; volatility; interest rate ... See more keywords
Central bank disclosure as a macroprudential tool for financial stability
Sign Up to like & getrecommendations! Published in 2018 at "Economic Systems"
DOI: 10.1016/j.ecosys.2018.07.001
Abstract: Abstract The Basel Capital Accord (pillar 3) states that disclosure of information (transparency) is essential to financial stability. This study analyzes, through inflation reports, the disclosure of information from the Central Bank of Brazil concerning… read more here.
Keywords: central bank; credit; macroprudential tool; stability ... See more keywords
Credit expansion in a monetary policy game: Implications of the valuation haircut framework
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DOI: 10.1016/j.frl.2018.04.012
Abstract: Abstract In this study, we build on the traditional monetary policy game framework of institutional design to formalize the linkage among credit expansion, inflation expectations, and inflation. We show that the optimal monetary response of… read more here.
Keywords: policy game; credit expansion; monetary policy; central bank ... See more keywords
International spillover of central bank swap lines - Evidence from the COVID-19 experience of Korea
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DOI: 10.1016/j.frl.2021.102003
Abstract: Abstract Dollar funding cost rose significantly worldwide during the early stage of the Covid-19 pandemic. Against the dollar shortage, the Fed provided liquidity to 14 other central banks through central bank swap lines. I find… read more here.
Keywords: central bank; swap; international spillover; swap lines ... See more keywords
Trading European Central Bank rumours on the EUR-USD exchange rate market
Sign Up to like & getrecommendations! Published in 2019 at "International Review of Financial Analysis"
DOI: 10.1016/j.irfa.2018.11.001
Abstract: This paper investigates whether the release of market-relevant news in the form of rumours on Twitter can explain the excess of market volatility previously attributed to private information, speculation, and noise traders. We define a… read more here.
Keywords: eur usd; market; bank rumours; central bank ... See more keywords