On 28th November OxTalks will move to the new Halo platform and will become 'Oxford Events' (full details are available on the Staff Gateway).
There will be an OxTalks freeze beginning on Friday 14th November. This means you will need to publish any of your known events to OxTalks by then as there will be no facility to publish or edit events in that fortnight. During the freeze, all events will be migrated to the new Oxford Events site. It will still be possible to view events on OxTalks during this time.
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Abstract
Central bank communication is an increasingly important policy tool, but its impact on market expectations arises through many potential channels. We clarify how communicating solely about expected future economic conditions can move short- and long-run market rates, and use the publication of the Bank of England’s Inflation Report to study the market impact of such communication. We find compelling evidence for a long-run information effect driven more by narrative than by quantitative forecasts. The effect operates largely via its impact on the term premium. We conclude that central banks can impact long-run interest rates without making explicit future policy commitments.
Download the Paper: mcmahonecon.com/wp_v4
