Proč by měly centrální banky odkrýt prognózu úrokových sazeb?

Kód výsledku v IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F07%3A00017177" target="_blank" >RIV/61989100:27510/07:00017177 - isvavai.cz</a>

Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

Why Central Bankers Should Disclose Interest Rate Forecast

Popis výsledku v původním jazyce

This paper deals with theoretical and empirical dimension of publishing interest rates projections by central banks. Its first goal is to review arguments in favor of and against this decision and to illustrate the debate using experience of four centralbanks which publish or used to publish interest rates forecast. The second objective is to evaluate the Czech National Bank?s capability to efficiently use publishing of its interest rates forecasts to increase further its transparency, accountability and credibility. We argue that (i) the CNB meets all requirements needed for making its interest rate forecast pub-lic; (ii) more specifically, we do not find any evidence of significantly worse CNB?s per-formance in interest rates forecasting compared toother institutions; (iii) it is not clear whether the risk assessment in combination with verbal description of interest rate fore-cast currently used has always been sufficiently precise guidance for the market parti-cipants; (iv) after

Název v anglickém jazyce

Why Central Bankers Should Disclose Interest Rate Forecast

Popis výsledku anglicky

This paper deals with theoretical and empirical dimension of publishing interest rates projections by central banks. Its first goal is to review arguments in favor of and against this decision and to illustrate the debate using experience of four centralbanks which publish or used to publish interest rates forecast. The second objective is to evaluate the Czech National Bank?s capability to efficiently use publishing of its interest rates forecasts to increase further its transparency, accountability and credibility. We argue that (i) the CNB meets all requirements needed for making its interest rate forecast pub-lic; (ii) more specifically, we do not find any evidence of significantly worse CNB?s per-formance in interest rates forecasting compared toother institutions; (iii) it is not clear whether the risk assessment in combination with verbal description of interest rate fore-cast currently used has always been sufficiently precise guidance for the market parti-cipants; (iv) after

Druh

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

CEP obor

AH - Ekonomie

OECD FORD obor

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Projekt

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Návaznosti

V - Vyzkumna aktivita podporovana z jinych verejnych zdroju

Rok uplatnění

2007

Kód důvěrnosti údajů

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

Název periodika

Finance a úvěr - Czech Journal of Economics and Finance

ISSN

0015-1920

e-ISSN

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Svazek periodika

57

Číslo periodika v rámci svazku

11-12

Stát vydavatele periodika

CZ - Česká republika

Počet stran výsledku

19

Strana od-do

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Kód UT WoS článku

000252306600005

EID výsledku v databázi Scopus

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