ECB Projections as a Tool for Understanding Policy Decisions
Paul Hubert
Journal of Forecasting, 2015, vol. 34, issue 7, 574-587
Abstract:
The European Central Bank publishes inflation projections quarterly and we aim to establish empirically whether they influence private inflation forecasts and whether they may be considered as an enhanced means of implementing policy decisions by facilitating private agents’ information processing. We provide original evidence that ECB inflation projections do influence private inflation expectations positively, and that ECB projections convey signals about future ECB rate movements. This paper suggests that ECB projections enable private agents to correctly interpret and predict policy decisions. Copyright © 2015 John Wiley & Sons, Ltd.
Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (18)
Downloads: (external link)
http://hdl.handle.net/
Related works:
Working Paper: The effect of interest rate and communication shocks on private inflation expectations (2015) 
Working Paper: ECB Projections as a tool for understanding policy decisions (2015)
Working Paper: ECB Projections as a tool for understanding policy decisions (2015)
Working Paper: ECB projections as a tool for understanding policy decisions (2013) 
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:wly:jforec:v:34:y:2015:i:7:p:574-587
Access Statistics for this article
Journal of Forecasting is currently edited by Derek W. Bunn
More articles in Journal of Forecasting from John Wiley & Sons, Ltd.
Bibliographic data for series maintained by Wiley Content Delivery ().