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2011-06-07Buch DOI: 10.18452/4322
The information content of central bank interest rate projections
dc.contributor.authorDetmers, Gunda-Alexandra
dc.contributor.authorNautz, Dieter
dc.date.accessioned2017-06-16T00:22:31Z
dc.date.available2017-06-16T00:22:31Z
dc.date.created2011-07-05
dc.date.issued2011-06-07
dc.date.submitted2011-06-07
dc.identifier.issn1860-5664
dc.identifier.urihttp://edoc.hu-berlin.de/18452/4974
dc.description.abstractThe Reserve Bank of New Zealand (RBNZ) has been the first central bank that began to publish interest rate projections in order to improve its guidance of monetary policy. This paper provides new evidence on the role of interest rate projections for market expectations about future shortterm rates and the behavior of long-term interest rates in New Zealand. We find that interest rate projections up to four quarters ahead play a significant role for the RBNZs expectations management before the crisis, while their empirical relevance has decreased ever since. For interest rate projections at longer horizons, the information content seems to be only weak and partially destabilizing.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin, Wirtschaftswissenschaftliche Fakultät
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectCentral bank interest rate projectionseng
dc.subjectcentral bank communicationeng
dc.subjectexpectations management of central bankseng
dc.subject.ddc330 Wirtschaft
dc.titleThe information content of central bank interest rate projections
dc.typebook
dc.subtitleEvidence from New Zealand
dc.identifier.urnurn:nbn:de:kobv:11-100188913
dc.identifier.doihttp://dx.doi.org/10.18452/4322
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages32
local.edoc.type-nameBuch
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2011
local.edoc.container-issue32
local.edoc.container-year2011
local.edoc.container-erstkatid2195055-6

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