Communication matters: US monetary policy and commodity price volatility

Bernd Hayo, Ali Kutan and Matthias Neuenkirch

Economics Letters, 2012, vol. 117, issue 1, 247-249

Abstract: We analyze the influence of US monetary policy on commodity price volatility. Expected target rate changes and communications decrease volatility, whereas target rate surprises and unorthodox measures increase it. The “calming” effect of communication is reduced during the financial crisis.

Keywords: Central bank communication; Commodities; Federal Reserve; Monetary policy; Price volatility (search for similar items in EconPapers)
JEL-codes: E52 E58 G14 Q10 Q40 (search for similar items in EconPapers)
Date: 2012
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (27)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0165176512002868
Full text for ScienceDirect subscribers only

Related works:
Working Paper: Communication Matters: U.S. Monetary Policy and Commodity Price Volatility (2011)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:117:y:2012:i:1:p:247-249

DOI: 10.1016/j.econlet.2012.05.018

Access Statistics for this article

Economics Letters is currently edited by Economics Letters Editorial Office

More articles in Economics Letters from Elsevier
Bibliographic data for series maintained by Catherine Liu ().