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Establishing Credibility: Evolving Perceptions of the European Central Bank
16 references·6 citing·39 second hop
Establishing Credibility: Evolving Perceptions of the European Central Bank (2005)Establishing Credibility: Evolving Percep…The high-frequency response of exchange rates and interest rates to macroeconomic announcements (2006)The high-frequency response o…The Sensitivity of Long-Term Interest Rates to Economic News: Evidence and Implications for Macroeconomic Models (2005)The Sensitivity of Long-Term …How Stable is the Predictive Power of the Yield Curve? Evidence from Germany and the United States (2003)How Stable is the Predictive …Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory* (2000)Monetary Policy Rules and Mac…Price Formation and Liquidity in the U.S. Treasury Market: The Response to Public Information (1999)Price Formation and Liquidity…Central Bank Credibility: Why Do We Care? How Do We Build It? (1999)Central Bank Credibility: Why…The predictive power of the term structure of interest rates in Europe and the United States: Implications for the European Central Bank (1997)The predictive power of the t…Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets (1997)Inflation Forecast Targeting:…Estimation of a Change Point in Multiple Regression Models (1997)Estimation of a Change Point …Tests for Parameter Instability and Structural Change With Unknown Change Point (1993)Tests for Parameter Instabili…Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence (1993)Central Bank Independence and…Central Bank Strategy, Credibility, and Independence: Theory and Evidence (1992)Central Bank Strategy, Credib…What does the term structure tell us about future inflation? (1990)What does the term structure …A Positive Theory of Monetary Policy in a Natural Rate Model (1983)A Positive Theory of Monetary…A Positive Theory of Monetary Policy in a Natural-Rate Model (1981)A Positive Theory of Monetary…On the Time Consistency of Optimal Policy in a Monetary Economy (1978)On the Time Consistency of Op…The optimal choice of central bank independence and conservatism under uncertainty (2011)The optimal choice of central…Which News Moves the Euro Area Bond Market? (2009)Which News Moves the Euro Are…Uncertainty and Fiscal Policy in an Asymmetric Monetary Union (2009)Uncertainty and Fiscal Policy…The High-Frequency Impact of News on Long-Term Yields and Forward Rates: Is It Real? (2008)The High-Frequency Impact of …Term Premiums and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset (2008)Term Premiums and Inflation U…Policy Words and Policy Deeds: The ECB and the Euro (2007)Policy Words and Policy Deeds…Inference About the Change-Point in a Sequence of Random Variables (1970)LEAST SQUARES ESTIMATION OF A SHIFT IN LINEAR PROCESSES (1994)Sample Splitting and Threshold Estimation (2000)Do Police Reduce Crime? Estimates Using the Allocation of Police Forces After a Terrorist Attack (2004)Dealing with Structural Breaks (2005)The Optimal Degree of Commitment to an Intermediate Monetary Target (1985)An Introduction to Varieties of Capitalism (2001)Varieties of Capitalism (2001)Monetary policy surprises and interest rates: Evidence from the Fed funds futures market (2001)Do Actions Speak Louder Than Words? The Response of Asset Prices to Monetary Policy Actions and Statements (2004)The U.S. Treasury yield curve: 1961 to the present (2007)Monetary Policy and Long-Term Real Rates (2012)Deconstructing Monetary Policy Surprises: The Role of Information Shocks (2018)An Exact Consumption-Loan Model of Interest with or without the Social Contrivance of Money (1958)Myopia and Inconsistency in Dynamic Utility Maximization (1973)Rules Rather than Discretion: The Inconsistency of Optimal Plans (1977)A Guide to Public Sector Debt and Deficits (1985)Servicing the Public Debt: The Role of Expectations* *I have greatly benefited from comments received at Johns Hopkins University, Georgetown University, the Macro Lunch Group of the University of Pennsylvania, MIT, and the Research Department of the International Monetary Fund. I am particularly indebted to Matt Canzoneri, Sara Guerschanik-Calvo, Joseph Harrington, Jr, Elhanan Helpman, Nissan Leviatan, Maury Obstfeld, Assaf Razin, Sweder van Wijnbergen and two anonymous referees. The research on this paper was partly done while I was a visiting scholar at the Research Department of the Internationed Monetary Fund, and it was partially funded by the National Science Foundation. However, any opinions expressed are entirely my own and not those of any of the above institutions. This paper has already been published in the The American Economic Review, 78, 4, September 1988, pp. 647–661. (1989)A Toolkit for Analysing Nonlinear Dynamic Stochastic Models Easily (2001)Testing for the Constancy of Parameters Over Time (1989)Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis (1992)What is an Oil Shock? (2000)Further Evidence on the Great Crash, the Oil-Price Shock, and the Unit-Root Hypothesis (2002)Staggered Prices in a Utility-Maximizing Framework (1996)Inflation dynamics: A structural econometric analysis (1999)The Science of Monetary Policy: A New Keynesian Perspective (1999)Time Varying Structural Vector Autoregressions and Monetary Policy (2005)The Information Content of Annual Earnings Announcements (1968)Stock return variances (1986)Measuring the Information Content of Stock Trades (1991)Macroeconomic Factors Do Influence Aggregate Stock Returns (2002)Yield spreads on EMU government bonds (2003)The Pre-FOMC Announcement Drift (2012)Some International Evidence on Output-Inflation Tradeoffs. (1973)"Rational" Expectations, the Optimal Monetary Instrument, and the Optimal Money Supply Rule (1975)Rules, discretion and reputation in a model of monetary policy (1983)Measuring the Independence of Central Banks and Its Effect on Policy Outcomes (1992)Inflation and Economic Growth (1995)Veto Players. How Political Institutions Work (2003)
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References

  • 2000Monetary Policy Rules and Macroeconomic Stability: Evidence and Some Theory*4,631 cited
  • 1993Tests for Parameter Instability and Structural Change With Unknown Change Point4,325 cited
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  • 1993Central Bank Independence and Macroeconomic Performance: Some Comparative Evidence1,830 cited
  • 1992Central Bank Strategy, Credibility, and Independence: Theory and Evidence1,366 cited
  • 2005The Sensitivity of Long-Term Interest Rates to Economic News: Evidence and Implications for Macroeconomic Models1,004 cited
  • 1997Estimation of a Change Point in Multiple Regression Models829 cited
  • 1978On the Time Consistency of Optimal Policy in a Monetary Economy807 cited
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  • 1999Central Bank Credibility: Why Do We Care? How Do We Build It?558 cited
  • 1997The predictive power of the term structure of interest rates in Europe and the United States: Implications for the European Central Bank537 cited
  • 2006The high-frequency response of exchange rates and interest rates to macroeconomic announcements484 cited
  • 1990What does the term structure tell us about future inflation?

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428 cited
  • 1997Inflation Forecast Targeting: Implementing and Monitoring Inflation Targets407 cited
  • 2003How Stable is the Predictive Power of the Yield Curve? Evidence from Germany and the United States348 cited
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    • 2009Which News Moves the Euro Area Bond Market?37 cited
    • 2011The optimal choice of central bank independence and conservatism under uncertainty33 cited
    • 2007Policy Words and Policy Deeds: The ECB and the Euro22 cited
    • 2009Uncertainty and Fiscal Policy in an Asymmetric Monetary Union16 cited
    • 2008Term Premiums and Inflation Uncertainty: Empirical Evidence from an International Panel Dataset14 cited