to revert to other types of Fed communication in the inter-meeting periods, and come to their own assessment of the …

The paper assesses the communication strategies of the Federal Reserve, the Bank of England and the European Central … Bank and their effectiveness. We find that the effectiveness of communication is not independent from the decisionmaking … process in the committee. The paper shows that the Federal Reserve has been pursuing a rather individualistic communication …

The paper shows that central bank communication is a key determinant of the market’s ability to anticipate monetary … policy decisions and the future path of interest rates. Comparing communication policies by the Federal Reserve, the Bank of …, individualistic communication regarding the economic outlook is found to be beneficial for the Federal Reserve, enabling market …

potentially conflicting - aspects of transparency. When there are frictions in communication or imperfections in the processing of … information, greater 'openness' (i.e. more information) need not always enhance the 'clarity' of central bank communication. In …

Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real …-world developments have spawned a huge new scholarly literature on central bank communication —mostly empirical, and almost all of it … written in this decade. We survey this evergrowing literature. The evidence suggests that communication can be an important …

financial market volatility after FOMC meetings. Finally, Fed communication may exert an influence on forecast accuracy. JEL …

Media coverage of monetary policy actions is a central channel of a central bank’s communication with the wider public … inflation environment, and that the media’s coverage of decisions is generally highly responsive to ECB communication – in …

dollar. The findings suggest that communication hinting at a weakening of EMEs’ US dollar focus contributed substantially to … more cautious in their communication more recently. Overall, the results underscore the growing systemic importance of EMEs …

Svensson (2006). First, the paper finds that the precision of communication is a key determinant of the predictability of both … FOMC decisions as well as the future policy path. Second, the effectiveness of communication is found to depend on the … communication to be flexible and adjust to market conditions in order for central banks to achieve their ultimate objectives. JEL …