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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/10010274048
How should central banks optimally aggregate sectoral inflation rates in the presence of imperfect labor mobility across sectors? We study this issue in a two-sector New-Keynesian model and show that a lower degree of sectoral labor mobility, ceteris paribus, increases the optimal weight on...
Persistent link: https://www.econbiz.de/10013315148
Using daily data on inflation-indexed bonds, we find evidence of a negative relationship between ECB communication … start of a tightening of ECB monetary policy was increasingly likely. This suggests that communication should be closely in … communication has been small …
Persistent link: https://www.econbiz.de/10013316794
This paper sheds new light on the role of communication for cartel formation. Using machine learning to evaluate free …-form chat communication among firms in a laboratory experiment, we identify typical communication patterns for both explicit … sanctions on communication reinforces the direct cartel-deterring effect of sanctions as collusion is more difficult to reach …
Persistent link: https://www.econbiz.de/10014243096
Using the variation in national television news of four major member states in the Eurozone, we find causal effects of coverage of high-frequency identified monetary policy announcements on households’ inflation expectations in an event study and a generalized Difference-in-Differences...
Persistent link: https://www.econbiz.de/10014260707
the countries' authorities, openness, and transparency, consistently with the theory. …
Persistent link: https://www.econbiz.de/10010264578
This paper characterizes geometrically the set of all Nash equilibrium payoffs achievable with unmediated communication …
Persistent link: https://www.econbiz.de/10010273734
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/10010261407
, this paper aims to bridge the gap between the theory and practice of monetary policy transparency. …
Persistent link: https://www.econbiz.de/10010274033
This paper studies the spillovers of US monetary policy and the mitigating role of foreign exchange interventions (FXI) by combining deviations from a daily FXI policy rule with high-frequency US monetary policy shocks, daily exchange rates, and firm-level stock prices, as well as firm-level...
Persistent link: https://www.econbiz.de/10014345962