Anticipation and Surprises in Central Bank Interest Rate Policy : The Case of the Bundesbank.
Market reaction to a change in official interest rates will depend on the extent to which the change is anticipated, and on how it is interpreted as a signal of future policy. In this paper, a technique is developed to separate the anticipated and unanticipated components of such changes and is appl...
| Collectivité auteur: | |
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| Format: | Revue |
| Langue: | English |
| Publié: |
Washington, D.C. :
International Monetary Fund,
1998.
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| Collection: | IMF Working Papers; Working Paper ;
No. 1998/043 |
| Accès en ligne: | Full text available on IMF |