Federal Reserve Information and the Behavior of Interest Rates

By Christina D. Romer, D. Romer. 2000

988 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/029c3572baf697b36663046af8bfa22dfe7e21eb

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In Economics and Econometrics

Citations in the corpus

The Time-Varying Effect of Monetary Policy on Asset Prices (2017, positive): “Last, following the empirical strategy in Romer and Romer (2000), I show that one would attach a higher weight to the Fed’s forecasts compared to private forecasts, when both are available, with respect to future macroeconomic developments as opposed to more current ones (see Tables 12, 13, and 13).”
The Role of Models and Probabilities in the Monetary Policy Process (2002, background): “Romer and Romer (2000). variables, although the list has fluctuated in length, exceeding eighty variables in the early 1980s.”
A unified measure of Fed monetary policy shocks (2019, background): “The literature on the central bank private information effect has called into question this assertion, however (Romer and Romer (2000), Campbell et al. (2012 and 2016), Nakamura and Steinsson (2018), Miranda-Agrippino (2016), and Jarocinski and Karadi (2018)).”
Do actions speak louder than words? the response of asset prices to monetary policy actions and statements (2004, result): “…extent, to positive revisions in investors’ assessment of the future path of output and inflation, consistent with a story first formalized by Romer and Romer (2000).26 A large positive realization of the path factor, for example, might be related to a statement suggesting that the FOMC…”
Nowcasting GDP in Real Time: A Density Combination Approach (2014, positive): “We follow Romer and Romer (2000) in using the second available estimate of GDP as the actual measure.”
Monetary Policy in a Data-Rich Environment (2003, background): “Romer and Romer (2000) have documented that Greenbook forecasts are exceptionally accurate compared to for-profit private-sector forecasts, suggesting that the Fed has private information, special expertise, or both.”
Coordination Failures and the Lender of Last Resort: Was Bagehot Right After All? (2002, background): “Romer and Romer (2000) find evidence of asymmetric information in favor of the Federal Reserve in relation to commercial forecasters in forecasting inflation.”