EconPapers    
Economics at your fingertips  
 

Does Central Bank Transparency and Communication Affect Financial and Macroeconomic Forecasts?

Thomas Lustenberger and Enzo Rossi

Working papers from Faculty of Business and Economics - University of Basel

Abstract: In a large sample of countries across different geographic regions and over a long period of time, we find limited country- and variable-specific effects of central bank transparency on forecast accuracy and their dispersion among a large set of professional forecasts of financial and macroeconomic variables. More communication even increases forecast errors and dispersion.

Keywords: Central bank transparency; central bank communication; central bank independence; inflation targeting; forward guidance; macroeconomic forecasts; financial forecasts; panel data models with truncated data (search for similar items in EconPapers)
JEL-codes: C23 C53 E37 E58 D8 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-for, nep-mac and nep-mon
Date: 2018-01-26
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2) Track citations by RSS feed

Downloads: (external link)
https://edoc.unibas.ch/61496/1/20180307131533_5a9fd7e5a4fa3.pdf (application/pdf)

Related works:
Working Paper: Does Central Bank Transparency and Communication Affect Financial and Macroeconomic Forecasts? (2017) Downloads
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:bsl:wpaper:2018/06

Access Statistics for this paper

More papers in Working papers from Faculty of Business and Economics - University of Basel Contact information at EDIRC.
Bibliographic data for series maintained by WWZ ().

 
Page updated 2019-03-31
Handle: RePEc:bsl:wpaper:2018/06