We estimate a novel text based ideal point model (TV-TBIP) for two main topics central bankers communicate about … monetary policy and financial stability policies. The individual euro area central banks tend to mirror the ECB’s position … central banks. For the national central banks changes between the states occur gradually and generally during crisis periods …

experiences of the U.S. and the Eurozone. There are important differences between these three economies and some striking … been more credible than the other two central banks considered at various times over the past three decades. In addition, a …

3000 speeches from central bankers to investigate the topics euro area national banks and the ECB most frequently talk … about. Text-based ideal point analysis enables us to estimate for each central bank a measure of its ideological position … stability communication lie at the core of central bank communication in the euro area. Second, the ECB’s ideal points tend to …

Central Bankers are currently facing big challenges in designing and implementing monetary policy, as well as with … changed central banking in many ways: by shifting the focus of monetary policy from fighting too high inflation towards …, conventional’ monetary policy; and by broadening central banks’ responsibilities particularly in the direction of safeguarding …