Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/229096 
Autor:innen: 
Erscheinungsjahr: 
2020
Schriftenreihe/Nr.: 
ECB Working Paper No. 2482
Verlag: 
European Central Bank (ECB), Frankfurt a. M.
Zusammenfassung: 
The news about the economy contained in a central bank announcement can affect public expectations. This paper shows, using both event studies and vector autoregressions, that such central bank information effects are an important channel of the transatlantic spillover of monetary policy. They account for a part of the co-movement of German and US government bond yields around Fed policy announcements, for most of this co-movement around ECB policy announcements, and significantly affect a range of financial and macroeconomic quantities on both sides of the Atlantic. These findings shed new light on the nature of central bank information.
Schlagwörter: 
International Policy Transmission
Monetary Policy Shocks
HighFrequency Identification
Structural VAR
JEL: 
E52
F31
F42
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-92-899-4399-4
Dokumentart: 
Working Paper

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