| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13915 |
| DP13915 Improving U.S. Monetary Policy Communications | |
| Stephen Cecchetti; Kim Schoenholtz | |
| 发表日期 | 2019-08-07 |
| 出版年 | 2019 |
| 语种 | 英语 |
| 摘要 | The Federal Open Market Committee (FOMC) publishes vast amounts of information regarding monetary policy, including its goals, strategy and outlook. By reinforcing the commitment to price stability and maximum sustainable employment, this transparency has helped improve U.S. economic performance in recent decades. Based on two dozen interviews with policy experts, we identify three objectives that guide our search for further improvements in communications practices: simplifying public statements, clarifying how policy will react to changing conditions, and highlighting uncertainty and risks. As examples, we propose a simpler post-meeting policy statement and the introduction of a concise Report on Economic Projections, the elements of which are mostly available in existing publications. A broader, systematic application of these objectives could also help the FOMC streamline other aspects of its communications framework. |
| 主题 | International Macroeconomics and Finance ; Monetary Economics and Fluctuations |
| 关键词 | Central bank communication Federal Reserve Forward guidance monetary policy Reaction functions Policy transparency Monetary policy credibility Central bank accountability |
| URL | https://cepr.org/publications/dp13915 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/542796 |
| 推荐引用方式 GB/T 7714 | Stephen Cecchetti,Kim Schoenholtz. DP13915 Improving U.S. Monetary Policy Communications. 2019. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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