Central Bank Communication and Policy Effectiveness

By Michael Woodford. 2005

578 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/33987e968b3e344bd2b910934a7b83273418263f

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In Economics and Econometrics

Citations in the corpus

The Case for Forecast Targeting as a Monetary Policy Strategy (2007, background): “7 This was the basis of the critique of interest rate rules by Sargent and Wallace (1975).”
Policy with Dispersed Information (2007, unknown): “Substituting the above into ( 33 ), we conclude that the strategy k : → R is efficient if and only if”
Central bank communication and expectations stabilization (2010, unknown): “Similarly, Svensson (2006) and Woodford (2005) argue that the conclusions of Morris and Shin (2002) depend on implausible parameter as- sumptions.”
The Role of Central Bank Transparency for Guiding Private Sector Forecasts (2012, unknown): “If the public understood monetary policy perfectly, any systematic pattern in the way that policy is conducted should be correctly inferred from the central bank's observed behavior (Woodford, 2005).”
Explaining Monetary Policy in Press Conferences (2018, background): “(Riksbank 2007) 2 This point is stressed by a number of important studies – though this list is by no means exhaustive – including Bernanke (2004), Blinder (1998), Goodhart (2005), Issing (2005), Reinhart and Sack (2006), and Woodford (2005).”
Heeding Daedalus: Optimal Inflation and the Zero Lower Bound (2009, background): “…to minimize public confusion is for the central bank to clearly communicate its expectations, including the anticipated policy path, as discussed by Woodford (2005) and by Rudebusch and Williams (2008).15 Another approach is to back up that communication with interventions in foreign exchange…”