Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada:
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Frankfurt am Main
2000
|
| Schriftenreihe: | Discussion paper / Economic Research Centre of the Deutsche Bundesbank
2000,8 |
| Schlagworte: | |
| Online-Zugang: | kostenfrei Inhaltsverzeichnis |
| Beschreibung: | 49 S. |
| ISBN: | 3933747589 |
Internformat
MARC
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| 245 | 1 | 0 | |a Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada |c Pierre L. Siklos |
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Datensatz im Suchindex
| _version_ | 1804128342029369344 |
|---|---|
| adam_text | Table of Contents
1 Introduction 1
2 Central Bank Transparency and Accountability in Theory and
in Practice 3
2.1 Institutional Approach 3
2.2 Loss Function Approach 4
2.3 Conflicting Tasks 6
3 The Evolution of Transparency and Accountability at the
Bank of Canada 8
3.1 An Early Attempt at Accountability and Transparency 8
3.2 Accountability and Transparency in the 1990s 10
3.3 Implications for Financial Markets and Inflation 15
4 Data 17
5 Empirical Results *°
5.1 High Frequency Evidence 1°
5.2 Conditional Interest Rate Changes 21
5.3 Transparency and Inflation Expectations 22
6 Conclusions
References 26
List of Tables and Figures
Table 1: Chronology of Changes in The Bank of Canada s Accountability
Transparency, 1988 99 31
Table 2: Commentary on the Monetary Conditions Index in the
Bank of Canada s Monetary Policy Report 32
Table 3: Changes in the Federal Reserve Funds Rate and the
Bank of Canada Target Overnight Rate, 1997 2000 33
Table 4: Kurtosis in Daily Financial Asset Prices, Canada 34
Table 5: Kurtosis in Daily Financial Asset Prices, UK 35
Table 6: Kurtosis in Daily Financial Asset Prices:
The Impact of Press Reports, 1986 1998 36
Table 7: Non Parametric Tests of Public Commentary
on Bank of Canada Policy 37
Table 8: Interest Rate Spread and the Impact of Monetary
Policy ,,Surprises , 1994 99 38
Table 9: Pooled Cross Section Time Series Estimates:
Monetary Data, 1988 99 39
Table 10: The Determinants of Inflation Forecast Errors 40
Table A1: Articles About the Bank of Canada in the
Globe and Mail, 1990 1998 41
Table A2: Articles about the Bank of Canada in the
Financial Post, 1986 1999 42
Table A3: Chronology of Bank of England s Monetary
Policy Committee, 1997 99 43
Figure 1: Inflation and the Inflation Control Targets
in Canada, 1991 99 44
Figure 2: The Overnight Rate Band and the Overnight
Rate in Canada, 1994 99 45
Figure 3: The Monetary Conditions Index in Canada,
June December 1998 46
Figure 4: Impulse Response Function for the Impact of the
Monetary Policy Reports on Private Sector
Forecast Errors, Canada, 1995 99 47
|
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| indexdate | 2024-07-09T18:47:43Z |
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| isbn | 3933747589 |
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| spelling | Siklos, Pierre L. 1955- Verfasser (DE-588)124307256 aut Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada Pierre L. Siklos Frankfurt am Main 2000 49 S. txt rdacontent n rdamedia nc rdacarrier Discussion paper / Economic Research Centre of the Deutsche Bundesbank 2000,8 Geldpolitik (DE-588)4019902-2 gnd rswk-swf Kanada (DE-588)4029456-0 gnd rswk-swf Kanada (DE-588)4029456-0 g Geldpolitik (DE-588)4019902-2 s DE-604 Economic Research Centre of the Deutsche Bundesbank Discussion paper 2000,8 (DE-604)BV013545109 2000,8 http://www.bundesbank.de/download/volkswirtschaft/dkp/2000/200008dkp.pdf Verlag kostenfrei Volltext HBZ Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009249118&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Siklos, Pierre L. 1955- Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada Geldpolitik (DE-588)4019902-2 gnd |
| subject_GND | (DE-588)4019902-2 (DE-588)4029456-0 |
| title | Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada |
| title_auth | Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada |
| title_exact_search | Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada |
| title_full | Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada Pierre L. Siklos |
| title_fullStr | Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada Pierre L. Siklos |
| title_full_unstemmed | Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada Pierre L. Siklos |
| title_short | Monetary policy transparency, public commentary, and market perceptions about monetary policy in Canada |
| title_sort | monetary policy transparency public commentary and market perceptions about monetary policy in canada |
| topic | Geldpolitik (DE-588)4019902-2 gnd |
| topic_facet | Geldpolitik Kanada |
| url | http://www.bundesbank.de/download/volkswirtschaft/dkp/2000/200008dkp.pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=009249118&sequence=000002&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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