In recent years central bankers have placed new emphasis on communication withfinancial markets and the general public. They have done this not only through the traditionalchannel of monetary policy pronouncements but also by increasing the quantity of information theymake public. Yet as central banks strive to provide more and clearer information about the outlookfor the economy, they must balance their capacity to steer economic expectations with their naturalcaution about committing to future monetary policy paths. This volume offers a variety ofperspectives on the economic implications of increased central bank communication. Contributorsoffer theoretical analyses of the effect of central bank communication on the general macroeconomicenvironment; consider a variety of novel empirical approaches to the issue; and analyzecommunication, decision making, and governance practices of the Greenspan-era U.S. Federal Reserve,the fledgling European Central Bank, and a variety of smaller central banks, including those of theCzech Republic, Sweden, England, and NewZealand. Contributors:Helge Berger, Michelle Bligh, MariannaBlix-Grimaldi, Ale Bulí, Robert Chirinko, Martin ihák, Christopher Curran, Paul De Grauwe,Jakob de Haan, Michael Ehrmann, Marcel Fratzscher, Petra Geraats, Gregory Hess, Roman Horváth,David-Jan Jansen, Özer Karagedikli, Michael Lamla, David Mayes, Alberto Montagnoli, Pierre L.Siklos, Kateina Smídková, Jan-Egbert Sturm, Jan Zápal

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