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dc.contributor.authorMirkov, Nikola
dc.contributor.authorNatvik, Gisle James
dc.date.accessioned2018-05-02T10:54:48Z
dc.date.available2018-05-02T10:54:48Z
dc.date.issued2013
dc.identifier.isbn978-82-7553-745-2
dc.identifier.issn1502-8143
dc.identifier.urihttp://hdl.handle.net/11250/2496698
dc.description.abstractIf central banks value the ex-post accuracy of their forecasts, previously announced interest rate paths might affect the current policy rate. We explore whether this "forecast adherence" has influenced the monetary policies of the Reserve Bank of New Zealand and the Norges Bank, the two central banks with the longest history of publishing interest rate paths. We derive and estimate a policy rule for a central bank that is reluctant to deviate from its forecasts. The rule can nest a variety of interest rate rules. We find that policymakers appear to be constrained by their most recently announced forecasts.nb_NO
dc.language.isoengnb_NO
dc.publisherNorges Banknb_NO
dc.relation.ispartofseriesWorking Papers;11/2013
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.no*
dc.subjectJEL: E43nb_NO
dc.subjectJEL: E52nb_NO
dc.subjectJEL: E58nb_NO
dc.subjectTaylor rulenb_NO
dc.subjectinterest ratesnb_NO
dc.subjectforecastsnb_NO
dc.subjectadherencenb_NO
dc.titleAnnouncements of Interest Rate Forecasts: Do Policymakers Stick to Them?nb_NO
dc.typeWorking papernb_NO
dc.description.versionpublishedVersionnb_NO
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212nb_NO
dc.source.pagenumber40nb_NO


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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
Med mindre annet er angitt, så er denne innførselen lisensiert som Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal