Central Bank Communication, Decision Making, and Governance - Issues, Challenges, and Case Studies

In recent years central bankers have placed new emphasis on communication with financial markets and the general public. They have done this not only through the traditional channel of monetary policy pronouncements but also by increasing the quantity of information they make public. Yet as central banks strive to provide more and clearer information about the outlook for the economy, they must balance their capacity to steer economic expectations with their natural caution about committing to future monetary policy paths. Contributors offer theoretical analyses of the effect of central bank communication on the general macroeconomic environment; consider a variety of novel empirical approaches to the issue; and analyze communication, decision making, and governance practices of the Greenspan-era U.S. Federal Reserve, the fledgling European Central Bank, and a variety of smaller central banks, including those of the Czech Republic, Sweden, England, and New Zealand.

About the author

Pierre L. Siklos is Professor of Economics and Director of the Viessmann European Research Centre at Wilfrid Laurier Universityís School of Business and Economics, Waterloo, Canada. Jan-Egbert Sturm is Professor of Applied Microeconomics and Director of KOF Swiss Economic Institute at the ETH Zurich.

Summary

Experts analyze the recent emphasis on central communication as an additional policy and accountability device.

Product details

• Authors: Pierre L Siklos, Pierre L. Siklos, Pierre L. (EDT)/ Sturm Siklos, Pierre L. (Professor) Sturm Siklos, Pierre L. Sturm Siklos
• Assisted by: Pierre L. Siklos (Editor), Pierre L. (Professor) Siklos (Editor), Jan-Egbert Sturm (Editor), Jan-Egbert (Swiss Federal Institute of Technology (ETH) Zurich) Sturm (Editor)
• Publisher: The MIT Press
• Languages: English
• Product format: Hardback
• Released: 01.12.2013
• EAN: 9780262018937
• ISBN: 978-0-262-01893-7
• No. of pages: 328
• Series: CESifo Seminar series; CESifo Seminar; Central Bank Communication, Decision Making, and Governance; CESifo Seminar Series; CESifo Seminar
• Subject: Social sciences, law, business > Business > General, dictionaries