Central banks' voting records, the financial crisis and future monetary policy

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216208%3A11230%2F15%3A10295379" target="_blank" >RIV/00216208:11230/15:10295379 - isvavai.cz</a>

Výsledek na webu

<a href="http://www.sciencedirect.com/science/article/pii/S0176268015000257" target="_blank" >http://www.sciencedirect.com/science/article/pii/S0176268015000257</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1016/j.ejpoleco.2015.03.003" target="_blank" >10.1016/j.ejpoleco.2015.03.003</a>

Jazyk výsledku

angličtina

Název v původním jazyce

Central banks' voting records, the financial crisis and future monetary policy

Popis výsledku v původním jazyce

We examine whether central banks voting records help predict the future course of monetary policy in the Czech Republic, Hungary, Poland, Sweden and the United Kingdom, controlling for financial market expectations. Unlike previous research, we first examine the period of the global financial crisis, characterized by a high level of uncertainty, and second, examine the predictive power of voting records over longer time horizons, i.e., the next monetary policy meeting and beyond. We find that voting records predict the policy rate set at the next meeting in all central banks that are recognized as independent. In some central banks, voting records are found-before, but not during, the financial crisis-to be informative about monetary policy at even more distant time horizons. (C) 2015 Elsevier B.V. All rights reserved.

Název v anglickém jazyce

Central banks' voting records, the financial crisis and future monetary policy

Popis výsledku anglicky

We examine whether central banks voting records help predict the future course of monetary policy in the Czech Republic, Hungary, Poland, Sweden and the United Kingdom, controlling for financial market expectations. Unlike previous research, we first examine the period of the global financial crisis, characterized by a high level of uncertainty, and second, examine the predictive power of voting records over longer time horizons, i.e., the next monetary policy meeting and beyond. We find that voting records predict the policy rate set at the next meeting in all central banks that are recognized as independent. In some central banks, voting records are found-before, but not during, the financial crisis-to be informative about monetary policy at even more distant time horizons. (C) 2015 Elsevier B.V. All rights reserved.

Druh

J_x - Nezařazeno - Článek v odborném periodiku (Jimp, Jsc a Jost)

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

<a href="/cs/project/GBP402%2F12%2FG097" target="_blank" >GBP402/12/G097: DYME-Dynamické modely v ekonomii</a><br>

Návaznosti

P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)

Rok uplatnění

2015

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název periodika

European Journal of Political Economy

ISSN

0176-2680

e-ISSN

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Svazek periodika

38

Číslo periodika v rámci svazku

červen

Stát vydavatele periodika

NL - Nizozemsko

Počet stran výsledku

15

Strana od-do

229-243

Kód UT WoS článku

000355373700016

EID výsledku v databázi Scopus

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