Why do long-run interest rates respond to central bank communication? Whereas existing explanations imply a common set …-run rates and operate primarily through the term premium. This suggests communication plays an important role in shaping …

effective monetary policy communication will only increase as China continues to liberalize its financial system and open its … markets of the PBC's main communication channels, including a novel communication channel. The results suggest that there has … been significant progress but that PBC communication is still evolving toward the level of other major economies. The paper …

Why do long-run interest rates respond to central bank communication? Whereas existing explanations imply a common set …-run rates and operate primarily through the term premium. This suggests communication plays an important role in shaping …