| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w12638 |
| 来源ID | Working Paper 12638 |
| Revealing the Secrets of the Temple: The Value of Publishing Central Bank Interest Rate Projections | |
| Glenn D. Rudebusch; John C. Williams | |
| 发表日期 | 2006-10-24 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | The modern view of monetary policy stresses its role in shaping the entire yield curve of interest rates in order to achieve various macroeconomic objectives. A crucial element of this process involves guiding financial market expectations of future central bank actions. Recently, a few central banks have started to explicitly signal their future policy intentions to the public, and two of these banks have even begun publishing their internal interest rate projections. We examine the macroeconomic effects of direct revelation of a central bank's expectations about the future path of the policy rate. We show that, in an economy where private agents have imperfect information about the determination of monetary policy, central bank communication of interest rate projections can help shape financial market expectations and may improve macroeconomic performance. |
| 主题 | Macroeconomics ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w12638 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/570300 |
| 推荐引用方式 GB/T 7714 | Glenn D. Rudebusch,John C. Williams. Revealing the Secrets of the Temple: The Value of Publishing Central Bank Interest Rate Projections. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w12638.pdf（341KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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