Striving to Be ""Clearly Open"" and ""Crystal Clear"": Monetary Policy Communication of the CNB

The Czech National Bank has a respectable track record in terms of its policy actions and the corresponding inflation outturns. Using a simple forward-looking policy rule, we find that its main communication tools-inflation targets, inflation forecasts, verbal assessments of the inflation risks cont...

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Bibliographic Details
Main Author: Bulir, Ales (Author)
Format: Electronic eBook
Language:English
Published: Washington, D.C International Monetary Fund 2008
Series:IMF Working Papers Working Paper No. 08/84
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Summary:The Czech National Bank has a respectable track record in terms of its policy actions and the corresponding inflation outturns. Using a simple forward-looking policy rule, we find that its main communication tools-inflation targets, inflation forecasts, verbal assessments of the inflation risks contained in quarterly inflation reports, and the voting within the CNB Board-provided a clear message in about three out of every four observations in our 2001- 2005 sample
Physical Description:1 Online-Ressource (22 p)
ISBN:1451869452
9781451869453

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