BoJ paper on Fed’s communication strategy
A Bank of Japan paper published in March says changes to the Federal Reserve's communication strategy during the 1990s enabled the central bank to better manage market expectations.
Yasuo Hirose and Takushi Kurozumi, the paper's authors, investigate changes in the Federal Reserve's communication strategy during the 1990s by analysing anticipated and unanticipated disturbances to a Taylor rule.
Hirose and Kurozumi are particularly interested in the effects the Federal Reserve's decision in 1994
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