WorldCat Identities

Verga, Giovanni

Works: 4 works in 12 publications in 2 languages and 29 library holdings
Roles: Author
Classifications: PQ4734.V5, 945.8
Publication Timeline
Most widely held works by Giovanni Verga
Sizilianische Geschichten by Giovanni Verga( Book )

9 editions published between 1900 and 1953 in German and Undetermined and held by 24 WorldCat member libraries worldwide

Is ECB communication effective? by Carlo Rosa( )

1 edition published in 2005 in English and held by 2 WorldCat member libraries worldwide

"In its Monthly Bulletin of November 2002, the European Central Bank (ECB) stated that the monthly press conference held by its President represents one of its most important communication channels and that it provides a comprehensive summary of the policy relevant assessment of economic developments. After providing a glossary to translate the qualitative information of the press conferences into an ordered scale, we verify empirically whether and to what extent market expectations react to the information released by the ECB. We found that the public not only understand but also believe the signals sent by the European monetary authority."
The importance of the wording of the ECB by Carlo Rosa( )

1 edition published in 2005 in English and held by 2 WorldCat member libraries worldwide

This paper analyses the ECB communication, focusing in particular on its transparency dimension. We posit that if the ECB is transparent about its future policy decisions, then we should be able to forecast fairly well its future interest rate setting behaviour. We find that the predicting ability of the European monetary authority's words, is similar to the one implied by market-based measures of monetary policy expectations. Moreover, the ECB's wording provides complementary, rather than substitute, information with respect to economic and monetary variables
The impact of central bank announcements on asset prices in real time testing the efficiency of the Euribor futures market by Carlo Rosa( )

1 edition published in 2006 in English and held by 1 WorldCat member library worldwide

This paper examines the effect of European Central Bank communication on the price discovery process in the Euribor futures market using a new tick-by-tick dataset. First, we show that two pieces of news systematically hit financial markets on Governing Council meeting days: the ECB policy rate decision and the explanation of its monetary policy stance. Second, we find that the unexpected component of ECB explanations has a significant and sizeable impact on futures prices. This indicates that the ECB has already acquired some credibility: financial markets seem to believe that it does what it says it will do. Finally, our results suggest that the Euribor futures market is semi-strong form informational efficient
Audience Level
Audience Level
  Kids General Special  
Audience level: 0.46 (from 0.35 for Sizilianis ... to 1.00 for Is ECB com ...)