Series: IMF Working Papers
Author(s): Maurice Obstfeld , Kevin Clinton , Ondra Kamenik , Douglas Laxton , Yulia Ustyugova , and Hou Wang
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 26 September 2016
Routine publication of the forecast path for the policy interest rate (i.e. 'conventional forward guidance') would improve the transparency of monetary policy. It would also improve policy effectiveness through its...