Document Type
Article
Publication Date
3-1-2011
Publication Title
Applied Economics
Volume
44
Issue
7
Pages
813-824
Abstract
In 1994, the Federal Reserve System moved to a more transparent reporting of monetary policy. This article assesses the impact of monetary policy transparency on uncertainty about future monetary policy using T-bill rate forecast dispersions and ex post forecast errors from the Survey of Professional Forecasters as a proxy for monetary policy uncertainty. The empirical findings confirm that Federal Reserve transparency has reduced the uncertainty about future monetary policy.
Recommended Citation
Hayford, Marc D. and Malliaris, Anastasios G.. Transparent U.S. Monetary Policy: Theory and Tests. Applied Economics, 44, 7: 813-824, 2011. Retrieved from Loyola eCommons, School of Business: Faculty Publications and Other Works, http://dx.doi.org/10.1080/00036846.2010.524628
Creative Commons License
This work is licensed under a Creative Commons Attribution-Noncommercial-No Derivative Works 3.0 License.
Copyright Statement
© Taylor & Francis 2012
Comments
Author Posting. © Taylor & Francis 2012. This article is posted here by permission of Taylor & Francis for personal use, not for redistribution. The article was published in Applied Economics, vol. 44. no. 7, 2011, https://doi.org/10.1080/00036846.2010.524628