We find that cognitive discounting dampens the effects of current monetary shocks and lowers the efficacy of forward guidance (FG), but its relative importance in mitigating the so-called FG puzzle is ...

an academic economist prominent in monetary policy circles. "Woodford has done a lot of work on QE, and he has made the point that QE helps reinforce forward guidance," says Misra. "In fact ...

A review of the recent innovations of monetary policy communications during the initial waves of the pandemic suggests forward guidance likely played a key role in moderating uncertainty and ...

“Forward guidance is a tool that central banks use to tell the public about the likely future course of monetary policy. When central banks provide forward guidance, individuals and businesses ...

I provided forward guidance on the intention to support a hike in rates if the fiscal actions of the subnational governments continue to weaken the effective transmission of monetary policy.

The development of monetary policy, particularly from late 2010 onwards, is highly controversial. Quantitative easing (asset and bond purchases by the central bank) directly increases ‘asset ...