The redistributive effects of forward guidance
Sign Up to like & getrecommendations! Published in 2019 at "Economics Letters"
DOI: 10.1016/j.econlet.2019.06.008
Abstract: Abstract We examine the redistributive effects of forward guidance under the zero lower bound. We show that the effects of forward guidance depend on savers’ asset positions and the nature of financial frictions. If borrowers… read more here.
Keywords: redistributive effects; forward guidance; guidance; effects forward ... See more keywords
Comment on “Can more public information raise uncertainty? The international evidence on forward guidance” by Michael Ehrmann, Gaetano Gaballo, Peter Hoffmann and Georg Strasser
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DOI: 10.1016/j.jmoneco.2019.09.016
Abstract: Abstract Ehrmann et al. contains very useful international evidence on the efficacy of forward guidance at anchoring expectations of future policy rates at the ELB. The authors give one finding particular attention, that short-term time-consistent forward guidance… read more here.
Keywords: comment public; information; forward guidance; international evidence ... See more keywords
Forward guidance: communication, commitment, or both?
Sign Up to like & getrecommendations! Published in 2019 at "Journal of Monetary Economics"
DOI: 10.1920/wp.ifs.2019.2019
Abstract: Faced with the constraint of the zero lower bound on interest rates, central banks around the world have engaged in "forward guidance" as one instrument to stimulate the economy. To properly ascertain the potential benefits… read more here.
Keywords: private information; central bank; commitment; forward guidance ... See more keywords