Measuring monetary policy in the UK: The UK monetary policy event-study database

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Monetary Economics Pub Date : 2024-07-25 DOI:10.1016/j.jmoneco.2024.103645

Robin Braun, Silvia Miranda-Agrippino, Tuli Saha

引用次数: 0

Abstract

We introduce the UK Monetary Policy Event-Study Database (UKMPD), a new and rich dataset of high-frequency monetary policy surprises for the United Kingdom. Intraday surprises are computed around the Bank of England’s Monetary Policy Committee’s announcements, as well as around the press conference that follows the publication of the quarterly Monetary Policy Report. The dataset also includes factors that disentangle the different dimensions of UK monetary policy. We use the data to estimate the causal effects of UK monetary policy, and provide novel insights on how financial markets have responded to the changes in the communication strategy of the Bank of England.

查看原文本刊更多论文

衡量英国的货币政策：英国货币政策事件研究数据库

我们介绍了英国货币政策事件研究数据库（UKMPD），这是一个新的、丰富的英国高频货币政策意外数据集。围绕英格兰银行货币政策委员会的公告以及季度货币政策报告发布后的新闻发布会计算日内意外。该数据集还包括可区分英国货币政策不同层面的因素。我们利用这些数据估算了英国货币政策的因果效应，并就金融市场如何应对英格兰银行沟通策略的变化提供了新的见解。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Journal of Monetary Economics Multiple-

CiteScore

7.20

自引率

4.90%

发文量

审稿时长

74 days

期刊介绍： The profession has witnessed over the past twenty years a remarkable expansion of research activities bearing on problems in the broader field of monetary economics. The strong interest in monetary analysis has been increasingly matched in recent years by the growing attention to the working and structure of financial institutions. The role of various institutional arrangements, the consequences of specific changes in banking structure and the welfare aspects of structural policies have attracted an increasing interest in the profession. There has also been a growing attention to the operation of credit markets and to various aspects in the behavior of rates of return on assets. The Journal of Monetary Economics provides a specialized forum for the publication of this research.