Publikation: Monetary policy inclinations
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2011
Autor:innen
Gersbach, Hans
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Journal of Money, Credit and Banking. 2011, 43(8), pp. 1707-1717. ISSN 0022-2879. Available under: doi: 10.1111/j.1538-4616.2011.00464.x
Zusammenfassung
We examine whether central banks should complement their inflation forecasts with interest rate projections. Introducing a central bank loss function that accounts for deviations from announcements, we incorporate the publication of policy inclinations into a dynamic monetary model. We show that in the presence of cost-push shocks, the publication of interest rate forecasts tends to improve welfare.
Zusammenfassung in einer weiteren Sprache
Fachgebiet (DDC)
330 Wirtschaft
Schlagwörter
Central banks, transparency, Federal Reserve, ECB, policy inclinations
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ISO 690
GERSBACH, Hans, Volker HAHN, 2011. Monetary policy inclinations. In: Journal of Money, Credit and Banking. 2011, 43(8), pp. 1707-1717. ISSN 0022-2879. Available under: doi: 10.1111/j.1538-4616.2011.00464.xBibTex
@article{Gersbach2011Monet-19096, year={2011}, doi={10.1111/j.1538-4616.2011.00464.x}, title={Monetary policy inclinations}, number={8}, volume={43}, issn={0022-2879}, journal={Journal of Money, Credit and Banking}, pages={1707--1717}, author={Gersbach, Hans and Hahn, Volker} }
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