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Author : Kenneth N. Kuttner
Release : 2000
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Monetary Policy Surprises and Interest Rates by : Kenneth N. Kuttner
Download or read book Monetary Policy Surprises and Interest Rates written by Kenneth N. Kuttner. This book was released on 2000. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Kenneth N. Kuttner
Release : 2000
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis Monetary Policy Surprises and Interest Rates by : Kenneth N. Kuttner
Download or read book Monetary Policy Surprises and Interest Rates written by Kenneth N. Kuttner. This book was released on 2000. Available in PDF, EPUB and Kindle. Book excerpt:
Author : International Monetary Fund
Release : 1998-04-01
Genre : Business & Economics
Kind : eBook
Book Rating : 198/5 ( reviews)
Book Synopsis Anticipation and Surprises in Central Bank Interest Rate Policy by : International Monetary Fund
Download or read book Anticipation and Surprises in Central Bank Interest Rate Policy written by International Monetary Fund. This book was released on 1998-04-01. Available in PDF, EPUB and Kindle. Book excerpt: Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes and is applied to estimate the response of Euro-deutsch mark interest rates to adjustments in the Bundesbank’s Lombard and discount rates. The results shed light on the efficiency of this market and on the scope for policy signaling by the central bank.
Author : Ann Marie Meulendyke
Release : 2015-02-16
Genre :
Kind : eBook
Book Rating : 388/5 ( reviews)
Book Synopsis U.S. Monetary Policy and Financial Markets - Scholar's Choice Edition by : Ann Marie Meulendyke
Download or read book U.S. Monetary Policy and Financial Markets - Scholar's Choice Edition written by Ann Marie Meulendyke. This book was released on 2015-02-16. Available in PDF, EPUB and Kindle. Book excerpt: This work has been selected by scholars as being culturally important, and is part of the knowledge base of civilization as we know it. This work was reproduced from the original artifact, and remains as true to the original work as possible. Therefore, you will see the original copyright references, library stamps (as most of these works have been housed in our most important libraries around the world), and other notations in the work. This work is in the public domain in the United States of America, and possibly other nations. Within the United States, you may freely copy and distribute this work, as no entity (individual or corporate) has a copyright on the body of the work. As a reproduction of a historical artifact, this work may contain missing or blurred pages, poor pictures, errant marks, etc. Scholars believe, and we concur, that this work is important enough to be preserved, reproduced, and made generally available to the public. We appreciate your support of the preservation process, and thank you for being an important part of keeping this knowledge alive and relevant.
Author : Michael D. Bauer
Release : 2022
Genre :
Kind : eBook
Book Rating : /5 ( reviews)
Book Synopsis A Reassessment of Monetary Policy Surprises and High-Frequency Identification by : Michael D. Bauer
Download or read book A Reassessment of Monetary Policy Surprises and High-Frequency Identification written by Michael D. Bauer. This book was released on 2022. Available in PDF, EPUB and Kindle. Book excerpt: High-frequency changes in interest rates around FOMC announcements are an important tool for identifying the effects of monetary policy on asset prices and the macroeconomy. However, some recent studies have questioned both the exogeneity and the relevance of these monetary policy surprises as instruments, especially for estimating the macroeconomic effects of monetary policy shocks. For example, monetary policy surprises are correlated with macroeconomic and financial data that is publicly available prior to the FOMC announcement. We address these concerns in two ways: First, we expand the set of monetary policy announcements to include speeches by the Fed Chair, which doubles the number and importance of announcements; Second, we explain the predictability of the monetary policy surprises in terms of the "Fed response to news" channel of Bauer and Swanson (2021) and account for it by orthogonalizing the surprises with respect to macroeconomic and financial data that pre-date the announcement. Our subsequent reassessment of the effects of monetary policy yields two key results: First, estimates of the high-frequency effects on asset prices are largely unchanged; Second, estimates of the effects on the macroeconomy are substantially larger and more significant than what previous studies using high-frequency data have typically found.
