Striving to Be 'Clearly Open' and 'Crystal Clear' : Monetary Policy Communication of the CNB /

The Czech National Bank has a respectable track record in terms of its policy actions and the corresponding inflation outturns. Using a simple forward-looking policy rule, we find that its main communication tools-inflation targets, inflation forecasts, verbal assessments of the inflation risks cont...

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Bibliografiske detaljer
Hovedforfatter: Bulir, Ales
Andre forfattere: Smidkova, Katerina
Format: Tidsskrift
Sprog:English
Udgivet: Washington, D.C. : International Monetary Fund, 2008.
Serier:IMF Working Papers; Working Paper ; No. 2008/084
Online adgang:Full text available on IMF
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520 3 |a The Czech National Bank has a respectable track record in terms of its policy actions and the corresponding inflation outturns. Using a simple forward-looking policy rule, we find that its main communication tools-inflation targets, inflation forecasts, verbal assessments of the inflation risks contained in quarterly inflation reports, and the voting within the CNB Board-provided a clear message in about three out of every four observations in our 2001- 2005 sample. 
538 |a Mode of access: Internet 
700 1 |a Smidkova, Katerina. 
830 0 |a IMF Working Papers; Working Paper ;  |v No. 2008/084 
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