Economics, Econometrics and Finance
4 years ago

Central bank communication impacts inflation and output in monetary policy transmission.

RePEc: Research Papers in Economics
Monetary Policy Transmission in Vector Autoregressions: A New Approach Using Central Bank Communication
Matthias Neuenkirch

Paper Summary

Central bank communication affects inflation and output similar to actual interest rate changes. During the financial crisis, the impact of monetary policy on inflation and output weakened and was shorter.

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