Has the information channel of monetary policy disappeared? Revisiting the empirical evidence
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- dc.contributor.author Hoesch, Lukas
- dc.contributor.author Rossi, Barbara, 1971-
- dc.contributor.author Sekhposyan, Tatevik
- dc.contributor.other Universitat Pompeu Fabra. Departament d'Economia i Empresa
- dc.date.accessioned 2020-05-25T09:27:03Z
- dc.date.available 2020-05-25T09:27:03Z
- dc.date.issued 2020-02-27
- dc.date.modified 2020-05-25T09:26:22Z
- dc.description.abstract Does the Federal Reserve have an 'information advantage' in forecasting macroeconomic variables beyond what is known to private sector forecasters? And are market participants reacting only to monetary policy shocks or also to future information on the state of the economy that the Federal Reserve communicates in its announcements via an 'information channel'? This paper investigates the evolution of the information channel over time. Although the information channel appears to be important historically, we find no empirical evidence of its presence in the recent years once instabilities are accounted for.
- dc.format.mimetype application/pdf*
- dc.identifier https://econ-papers.upf.edu/ca/paper.php?id=1701
- dc.identifier.citation
- dc.identifier.uri http://hdl.handle.net/10230/44759
- dc.language.iso eng
- dc.relation.ispartofseries Economics and Business Working Papers Series; 1701
- dc.rights L'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commons
- dc.rights.accessRights info:eu-repo/semantics/openAccess
- dc.rights.uri http://creativecommons.org/licenses/by-nc-nd/3.0/es/
- dc.subject.keyword forecasting
- dc.subject.keyword monetary policy
- dc.subject.keyword instabilities
- dc.subject.keyword time variation
- dc.subject.keyword survey forecasts
- dc.subject.keyword information channel of monetary policy.
- dc.subject.keyword Macroeconomics and International Economics
- dc.title Has the information channel of monetary policy disappeared? Revisiting the empirical evidence
- dc.title.alternative
- dc.type info:eu-repo/semantics/workingPaper