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来源类型Working Paper
规范类型报告
DOI10.3386/w13932
来源IDWorking Paper 13932
Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence
Alan S. Blinder; Michael Ehrmann; Marcel Fratzscher; Jakob De Haan; David-Jan Jansen
发表日期2008-04-10
出版年2008
语种英语
摘要Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real-world developments have spawned a huge new scholarly literature on central bank communication -- mostly empirical, and almost all of it written in this decade. We survey this ever-growing literature. The evidence suggests that communication can be an important and powerful part of the central bank's toolkit since it has the ability to move financial markets, to enhance the predictability of monetary policy decisions, and potentially to help achieve central banks' macroeconomic objectives. However, the large variation in communication strategies across central banks suggests that a consensus has yet to emerge on what constitutes an optimal communication strategy.
主题Macroeconomics ; Monetary Policy
URLhttps://www.nber.org/papers/w13932
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/571606
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Alan S. Blinder,Michael Ehrmann,Marcel Fratzscher,et al. Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence. 2008.
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