作者：HUTCHISON, M; JUDD, JP
作者单位：Federal Reserve System - USA
摘要：The information value of central bank announcements of projected future money growth is shown to depend both on the accuracy of the announcements and the extent to which the announcements themselves are anticipated by the public. We construct a new data set on internal Federal Reserve money projections. These projections, which are kept secret while they are in force, are comparable in many important respects to publicly announced Bank of Japan money projections. Using a derivative of the law ...
