Central banks? voting records and future policy

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11640%2F12%3A00388302" target="_blank" >RIV/00216208:11640/12:00388302 - isvavai.cz</a>
Alternative codes found
RIV/00216208:11230/12:10159120
Result on the web
<a href="http://www.ijcb.org/journal/ijcb12q4a1.pdf" target="_blank" >http://www.ijcb.org/journal/ijcb12q4a1.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Central banks? voting records and future policy
Original language description
We assess whether the voting records of central bank boards are informative about future monetary policy using data on five inflation-targeting countries (the Czech Republic, Hungary, Poland, Sweden, and the United Kingdom). We find that in all countriesthe voting records, namely the difference between the average voted-for and actually implemented policy rate, signal future monetary policy, making a case for publishing the records. This result holds even if we control for the financial market expectations, include the voting records from the period covering the current global financial crisis, and examine the differences in timing and style of the voting record announcements.
Czech name
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Czech description
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Type
J<sub>x</sub> - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)
CEP classification
AH - Economics
OECD FORD branch
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Project
<a href="/en/project/GAP402%2F12%2F1993" target="_blank" >GAP402/12/1993: Quantitative Modelling of Monetary and Fiscal Policies after the Crisis</a><br>
Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year
2012
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

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