Transparency and Communication of Central Banks
We examine which information should be published by central banks. Specific issues are for example:
- When and how should central banks employ forward guidance?
- Should central banks publish their estimates about economic shocks?
- Should committees, for example monetary policy committees, publish details about decision-making, in particular voting records?
- Is the publication of policy intentions desirable?
- Should central bankers be subject to inflation forecast contracts?
- Should central bankers be subject to forward guidance contracts?
Publications
- Forward Guidance Contracts, Macroeconomic Dynamics, 23(8), 2017, 3386-3423.
(Hans Gersbach, Volker Hahn and Yulin Liu)
Download Working Paper Version
- Inflation Forecast Contracts, Journal of Economic Dynamics and Control, 48, 2014, 26-40.
(Hans Gersbach and Volker Hahn)
Download Working Paper Version (PDF, 866 KB)
- Effective Forward Guidance: Scrupulous Central Bankers and Forecast Contracts, in: Wouter den Haan (ed.), Forward Guidance, VoxEU eBook, 2013.
(Hans Gersbach and Volker Hahn)
Download PDF download - Monetary Policy Inclinations, Journal of Money, Credit, and Banking, 43(8), 2011, 1707-1717.
(Hans Gersbach and Volker Hahn)
Download Working Paper Version - Voting Transparency in a Monetary Union, Journal of Money, Credit and Banking, 41(5), 2009, 831-853.
(Hans Gersbach and Volker Hahn)
Download Working Paper Version - Flexible Majority Rules for Central Banks, Journal of Money, Credit and Banking, 41(2-3), 2009, 507-516
(Hans Gersbach and Bernhard Pachl)
Download Working Paper Version (PDF, 249 KB) - Forward Guidance for Monetary Policy: Is It Desirable?, in "Designing Central Banks", David Mayes, Geoffrey E. Wood (eds.),
Routledge, 2009.
(Hans Gersbach and Volker Hahn)
Download Working Paper Version (PDF, 391 KB) - Should the Individual Voting Records of Central Bankers be Published?, Social Choice and Welfare, 30(4), 2008, 655-683.
(Hans Gersbach and Volker Hahn)
Download Working Paper Version (PDF, 246 KB) - Information Content of Wages and Monetary Policy, Journal of Money, Credit, and Banking, 39(1), 2007, 133-149.
(Hans Gersbach and Volker Hahn)
Download Working Paper Version (PDF, 164 KB) - Signaling and Commitment: Monetary versus Inflation Targeting, Macroeconomic Dynamics, 10(5), 2006, 595-624.
(Hans Gersbach and Volker Hahn)
Download Working Paper Version - Voting Transparency, Conflicting Interests and the Appointment of Central Bankers, Economics and Politics, 16(3), 2004, 321-345.
(Hans Gersbach and Volker Hahn)
Download PDF Download - On the Negative Social Value of Central Banks' Knowledge Transparency, Economics of Governance, 4(2), 2003, 91-102.
(Hans Gersbach)
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Working Papers
- external page Versatile Forward Guidance: Escaping or Switching?
(Hans Gersbach and Yulin Liu)
Team Members
Cooperation Partner
- external page Volker Hahn (University of Konstanz)