| Autor: |
† prof. Mgr. Kateřina Šmídková M.A., Ph.D., Aleš Bulíř
|
| Typ: |
Články v impaktovaných časopisech |
| Rok: |
2007 |
| Číslo: |
23 |
| ISSN / ISBN: |
|
| Publikováno v: |
Czech Journal of Economics and Finance, 57(11-12), pp.540-557 |
| Místo vydání: |
Prague |
| Klíčová slova: |
transparency, communication, monetary policy, Czech National Bank |
| JEL kódy: |
E31, E43, E47, E58 |
| Citace: |
|
| Abstrakt: |
The Czech National Bank has a respectable track record in terms of its policy actions and the corresponding inflation outturns. The authors analyze its main communication tools – inflation targets, inflation forecasts, verbal assessments of the inflation risks contained in quarterly inflation reports, and the voting within the CNB Board – to assess clarity of communication. They find that these tools provided a very clear message in about three out of every four observations in our 2001–2005 sample. |
