LIBROS DEL AUTOR: marcel fratzscher

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  • Transparency, Disclosure, and the Federal Reserve
    Marcel Fratzscher / Michael Ehrmann / International Journal of Central Banking
    This paper provides an assessment of central bank transparency for the efficiency of monetary policy implementation, using the introduction of balance-of-risks assessments by the Federal Reserve as a testing device. We find that markets anticipated monetary policy decisions equally well under this new disclosure regime as before, but arrived at their expectations differently. N...
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