Central-bank announcements and macroeconomic stability

• Authors: Valentinyi A.
• Languages of publication: HU

Abstracts

EN

Announcements by the central bank do not simply provide market participants with information. They also coordinate market expectations. So even announcements that seem to provide very little new information can elicit strong market reactions. Market participants uncertain about what information others have will also be uncertain whether other market participants know what they know. In a review of recent literature on global games, the paper shows how central-bank announcements may trigger or prevent speculative attacks.

Keywords

EN

CENTRAL BANK ANNOUNCEMENTS; MARKET REACTIONS

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Committee for Economic Sciences of the Hungarian Academy of Sciences
• Journal: Kozgazdasagi Szemle (Economic Review)
• Year: 2005
• Volume: 52
• Issue: 11
• Pages: 811-824
• Document type: ARTICLE

Contributors

author

Valentinyi A.

• A. Valentinyi, no address given, contact the journal editor

Identifiers

CEJSH db identifier

07HUAAAA02956031