Počet záznamů: 1
Is the U.S. Fed voting record informative about future monetary policy?
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SYSNO ASEP 0388300 Druh ASEP J - Článek v odborném periodiku Zařazení RIV J - Článek v odborném periodiku Poddruh J Článek ve WOS Název Is the U.S. Fed voting record informative about future monetary policy? Tvůrce(i) Horváth, R. (CZ)
Šmídková, K. (CZ)
Zápal, Jan (NHU-C) RIDZdroj.dok. Finance a úvěr-Czech Journal of Economics and Finance. - : Univerzita Karlova v Praze - ISSN 0015-1920
Roč. 62, č. 6 (2012), s. 478-484Poč.str. 7 s. Jazyk dok. eng - angličtina Země vyd. CZ - Česká republika Klíč. slova monetary policy ; voting record ; transparency Vědní obor RIV AH - Ekonomie Institucionální podpora NHU-C - PRVOUK-P23 UT WOS 000313842600001 Anotace We examine the information content of U.S. Fed voting records under the Greenspan chairmanship. We find that the voting records of FOMC members, as captured by the difference between the average voted-for and actually implemented policy rate, signal the future course of monetary policy. The committee bias, an official statement on how the Fed is leaning in terms of its next interest rate move, is found to improve monetary policy predictability, too. On the other hand, the voting of alternate members, who actively contribute to the discussions at the monetary policy meetings but whose votes do not count for setting the interest rate, does not have predictive power and is more in line with that of the chairman. Pracoviště Národohospodářský ústav - CERGE Kontakt Tomáš Pavela, pavela@cerge-ei.cz, Tel.: 224 005 122 Rok sběru 2013 Elektronická adresa http://journal.fsv.cuni.cz/storage/1259_478-484_---horvath.pdf
Počet záznamů: 1