OxTalks will soon move to the new Halo platform and will become 'Oxford Events.' There will be a need for an OxTalks freeze. This was previously planned for Friday 14th November – a new date will be shared as soon as it is available (full details will be available on the Staff Gateway).
In the meantime, the OxTalks site will remain active and events will continue to be published.
If staff have any questions about the Oxford Events launch, please contact halo@digital.ox.ac.uk
To meet with the speaker please sign up on the following sheet at the latest two days before the visit:
docs.google.com/spreadsheets/d/1r-zlPHqsFNjUU6tzRtJYcbtoQzwHXH9KCAy-RGDvmYY/edit#gid=0
Abstract:
We study the impact of the monetary policy announcements on market-based expectations of interest and of inflation rates. We find that the impact of the ECB announcements of the future monetary policy stance on inflation expectations has changed over the last fifteen years. In particular, while in the central part of our sample these announcements were read as a signal about the economic conditions (i.e. Delphic component), in latest episodes they have been interpreted as a commitment device on the future monetary policy stance (i.e. Odyssean component). We propose an approach to separately identify the Delphic and Odyssean component of the ECB monetary policy announcements and we measure their dynamic impact on the economy.
