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Does Central Bank Communication really Lead to better Forecasts of Policy Decisions? New Evidence Based on a Taylor Rule Model for the ECB

Sturm, Jan-Egbert; Haan, Jakob de - CESifo - 2009

central bank actions. We examine whether communication by the European Central Bank (ECB) adds information compared to the … ECB communication that are all based on the ECB President’s introductory statement at the press conference following an … included in our Taylor rule model, the ECB communication indicators remain significant. …

Persistent link: https://www.econbiz.de/10005013956

Does Money Matter in the ECB Strategy? New Evidence Based on ECB Communication

Berger, Helge; Sturm, Jan-Egbert - CESifo - 2006

We examine the role of money in the policies of the ECB, using introductory statements of the ECB President at the monthly press conferences during 1999-2004. Over time, the relative amount of words devoted to the monetary analysis has decreased. Our analysis of indicators of the monetary policy...

Persistent link: https://www.econbiz.de/10005406390