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Faculty of Business Administration and Economics, Philipps-Universität Marburg >
MAGKS Joint Discussion Paper Series in Economics, Universität Marburg >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/56513
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Neuenkirch, Matthias | | en_US |
| dc.date.accessioned | | 2011-10-25 | | en_US |
| dc.date.accessioned | | 2012-04-04T13:50:02Z | | - |
| dc.date.available | | 2012-04-04T13:50:02Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/56513 | | - |
| dc.description.abstract | | In this paper, we study the role central bank communication plays in the monetary policy transmission mechanism. We employ the Swiss Economic Institute's Monetary Policy Communicator to measure the future stance of the European Central Bank's monetary policy. Our results indicate that, first, communication influences prices and output. Second, communication partly crowds out the effects of the short-term interest rate as the latter's influence is lower and its implementation lag increases compared to a benchmark model without central bank communication. Future work on monetary policy transmission should incorporate both a short-term interest rate and a communication indicator. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Univ., Dep. of Business Administration & Economics Marburg | | en_US |
| dc.relation.ispartofseries | | Joint discussion paper series in economics 43-2011 | | en_US |
| dc.subject.jel | | E52 | | en_US |
| dc.subject.jel | | E58 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | central bank communication | | en_US |
| dc.subject.keyword | | European Central Bank | | en_US |
| dc.subject.keyword | | monetary policy shocks | | en_US |
| dc.subject.keyword | | monetary policy transmission | | en_US |
| dc.subject.keyword | | vector autoregression | | en_US |
| dc.subject.stw | | Geldpolitik | | en_US |
| dc.subject.stw | | Informationsverhalten | | en_US |
| dc.subject.stw | | Staatliche Information | | en_US |
| dc.subject.stw | | Transmissionsmechanismus | | en_US |
| dc.subject.stw | | Makroökonomischer Einfluss | | en_US |
| dc.subject.stw | | Europäische Wirtschafts- und Währungsunion | | en_US |
| dc.subject.stw | | Eurozone | | en_US |
| dc.title | | Monetary policy transmission in vector autoregressions: A new approach using central bank communication | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 670501425 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | MAGKS Joint Discussion Paper Series in Economics, Universität Marburg
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