Horvath, Roman and Smidkova, Katerina and Zapal, Jan (2012) Central Banks' Voting Records and Future Policy. INTERNATIONAL JOURNAL OF CENTRAL BANKING, 8 (4). pp. 1-19. ISSN 1815-4654,
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We assess whether the voting records of central bank boards are informative about future monetary policy using data on five inflation-targeting countries (the Czech Republic, Hungary, Poland, Sweden, and the United Kingdom). We find that in all countries the voting records, namely the difference between the average voted-for and actually implemented policy rate, signal future monetary policy, making a case for publishing the records. This result holds even if we control for the financial market expectations, include the voting records from the period covering the current global financial crisis, and examine the differences in timing and style of the voting record announcements.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | MONETARY-POLICY; TRANSPARENCY; COMMUNICATION; COMMITTEES; MPCS; |
| Subjects: | 300 Social sciences > 330 Economics |
| Divisions: | Central Institutions > Wissenschaftszentrum Ost- und Südosteuropa Regensburg |
| Depositing User: | Dr. Gernot Deinzer |
| Date Deposited: | 04 May 2020 04:58 |
| Last Modified: | 04 May 2020 04:58 |
| URI: | https://pred.uni-regensburg.de/id/eprint/17627 |
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