Phan, Tuan (2013): Should Central Banks publish interest rate forecasts? - A Survey.
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Abstract
As a particular form of transparency, nowadays some central banks publish their interest rate forecasts while many others refuse to do that. Whether the publication is good or bad for economic performance and social welfares is now a hotly debatable subject. This paper provides a review of the literature in both theoretical and empirical aspects. We also establish a criteria table which could be used as a preliminary guideline for central banks in answering the question whether they should reveal the forecasts, and how to publish the policy rate inclinations. The suggested conclusion is that interest rate projections should be considered as one of the last items that central banks should reveal and they should be very careful in publishing its policy rate forecasts.
Item Type: | MPRA Paper |
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Original Title: | Should Central Banks publish interest rate forecasts? - A Survey |
English Title: | Should Central Banks publish interest rate forecasts? - A Survey |
Language: | English |
Keywords: | Central bank, transparency, interest rate forecasts |
Subjects: | E - Macroeconomics and Monetary Economics > E5 - Monetary Policy, Central Banking, and the Supply of Money and Credit > E58 - Central Banks and Their Policies |
Item ID: | 44676 |
Depositing User: | Mr Tuan Phan |
Date Deposited: | 02 Mar 2013 00:59 |
Last Modified: | 27 Sep 2019 16:33 |
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URI: | https://mpra.ub.uni-muenchen.de/id/eprint/44676 |