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. …

shock and a discretionary buyer transfer. In the absence of communication, we find that rigid contracts are more frequent … and lead to higher earnings for both buyer and seller. By contrast, in the presence of communication, flexible contracts … considerably more from flexible with communication than rigid without communication. Our results show quite strongly that …