FRIC Practitioner Seminar with Niels Thygesen, University of Copenhagen
FRIC Center for Financial Frictions is proud to announce the upcoming practitioner seminar with Niels Thygesen, University of Copenhagen
Title: Central bank communication as a monetary strategy - Is “forward guidance” here to stay?
Central banks in the US, the UK and Japan – more timidly in the Euro area – have begun to communicate future policy intentions, so-called “forward guidance”, more systematically in the past few years, mainly as a response by inflation-targeting central banks to hitting the zero interest rate bound. How effective have these efforts been, and how likely are they to become more permanent after exit from the crisis? What is the likely the longer-run impact on central bank communications and, ultimately, on central bank independence of both markets and political authorities? Do we have a framework for addressing these issues beyond the more anecdotal evidence so far available?