Reading central banks does unconventional blur the picture? (notice n° 697666)
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| fixed length control field | 01604cam a2200217 4500500 |
| 005 - DATE AND TIME OF LATEST TRANSACTION | |
| control field | 20250121212314.0 |
| 041 ## - LANGUAGE CODE | |
| Language code of text/sound track or separate title | fre |
| 042 ## - AUTHENTICATION CODE | |
| Authentication code | dc |
| 100 10 - MAIN ENTRY--PERSONAL NAME | |
| Personal name | Schumacher, Dirk |
| Relator term | author |
| 245 00 - TITLE STATEMENT | |
| Title | Reading central banks does unconventional blur the picture? |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. | |
| Date of publication, distribution, etc. | 2022.<br/> |
| 500 ## - GENERAL NOTE | |
| General note | 82 |
| 520 ## - SUMMARY, ETC. | |
| Summary, etc. | The effectiveness of central banks to fulfil their policy goals depends also on their ability to clearly signal their intentions to financial market participants and the general public. After all, monetary policy actions are transmitted via financial markets to the real economy and private households. In normal times, that is before the financial crisis, the short-term interest rate was the main tool to communicate the policy stance. Knowing where the short-term interest rate would go, would provide a good guide to where the central bank wants the economy to go. The addition of unconventional policy tools, such as outright purchases of financial assets, and a closer interaction between monetary and fiscal policy has made “reading” central banks more complicated for market participants. This in turn makes a stronger effort from central banks necessary to get their message across. Unfortunately, it also implies a higher risk of mis-communication and policy mistakes. |
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| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
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| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
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| 690 ## - LOCAL SUBJECT ADDED ENTRY--TOPICAL TERM (OCLC, RLIN) | |
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| 786 0# - DATA SOURCE ENTRY | |
| Note | Revue d'économie financière | 144 | 4 | 2022-03-15 | p. 117-126 | 0987-3368 |
| 856 41 - ELECTRONIC LOCATION AND ACCESS | |
| Uniform Resource Identifier | <a href="https://shs.cairn.info/journal-revue-d-economie-financiere-2021-4-page-117?lang=en&redirect-ssocas=7080">https://shs.cairn.info/journal-revue-d-economie-financiere-2021-4-page-117?lang=en&redirect-ssocas=7080</a> |
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