We apply a New Keynesian, open economy model with learning to compare the benefits from the publication of macroeconomic projections and the future interest rate path in Poland. In this framework both sources of increased transparency generate net benefits, but the gains from showing a macro projection are substantially larger than those related to additionally publishing an interest rate path.

Keywords: future interest rate path, macroeconomic projection, learning, monetary policy
JEL: E52, E58, E43

 Michał Brzoza-Brzezina - Comparing the Benefits from Publishing Macroeconomic Projections and the Future Interest Rate Path in Poland - plik pdf; (428 KB)