Template-type: ReDIF-Paper 1.0
Author-Name: Thomas Lustenberger
Author-Name-First: Thomas
Author-Name-Last: Lustenberger
Author-Person: plu399
Author-Name: Dr. Enzo Rossi
Author-Name-First: Enzo
Author-Name-Last: Rossi
Author-Person: pro820
Title: Does Central Bank Transparency and Communication Affect Financial and Macroeconomic Forecasts?
Abstract: In a large sample of countries across different geographic regions and over a long period of time, we find limited country- and variable-specific effects of central bank transparency on forecast accuracy and their dispersion among a large set of professional forecasts of financial and macroeconomic variables. More communication even increases forecast errors and dispersion.
Length: 60 pages
Creation-Date: 2017
Contact-Email: forschung@snb.ch
File-URL: https://www.snb.ch/en/publications/research/working-papers/2017/working_paper_2017_12
File-Format: text/html
Number: 2017-12
Classification-JEL: C23, C53, E37, E58, D8
Keywords: Central bank transparency, central bank communication, central bank independence, inflation targeting, forward guidance, macroeconomic forecasts, financial forecasts, panel data models with truncated data
Handle: RePEc:snb:snbwpa:2017-12