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transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central …
Persistent link: https://www.econbiz.de/10011717595
We examine the European Central Bank's ad-hoc communication and explore how it informs future monetary policy decisions …. Using the rich dataset of the intermeeting verbal communication among the members of the European Central Bank's Governing … Council between 2008 and 2014, we construct a measure of communication assessing its inclination towards easing, tightening or …
Persistent link: https://www.econbiz.de/10012010470
This paper shows that a different communication style of the European Central Bank (ECB) affects stock prices … differently. A break in the ECB's communication from 2016 onwards makes it necessary to adjust the identification of monetary …
Persistent link: https://www.econbiz.de/10012803259
examine whether this form of ECB communication adds information to a shadow interest rate that summarises the overall policy … stance as interpreted by financial markets. To measure communication, we use information based on ECB press releases … interest rates have hit their effective lower bounds (ELB). In case of the European Central Bank (ECB), this should have …
Persistent link: https://www.econbiz.de/10012105109
We examine howthe verbal complexity of ECB communications affectsfi-nancial market trading based on high-frequency data … fromEuropean stock index futures trading. Studying the 34 events between May 2009 and June 2017, during which the ECB Governing …
Persistent link: https://www.econbiz.de/10012039675
This paper investigates the financial market effects of the ECB's communication on the Pandemic Emergency Purchase … whether spreads react differently to communication by specific ECB Executive Board members. Markets turn out to be sensitive … to both the communication channel and the communicating ECB Executive Board member. …
Persistent link: https://www.econbiz.de/10014330976
explore whether central bank cheap talk, policy transparency, both cheap talk and policy transparency or economic transparency …
Persistent link: https://www.econbiz.de/10011572114
This paper discusses the evolution of central bank communication, focusing on recent efforts by central banks to engage … analyzing Twitter content by and about monetary policy makers can inform about the effectiveness of communication in influencing … communication affects expectations and, subsequently, behavior in financial markets …
Persistent link: https://www.econbiz.de/10014238784
their assessment of central bank communication skills and success in conveying objectives as well as the importance of … transparency-enhancing measures, such as voting records, transcripts or minutes of policy meetings, and conditional interest rate … and their overall communication skills on the one hand, and market participants' perception of the banks' predictability …
Persistent link: https://www.econbiz.de/10011447433
their assessment of central bank communication skills and success in conveying objectives as well as the importance of … and their overall communication skills on the one hand, and market participants' perception of the banks' predictability … transparency-enhancing measures will improve central bank predictability. …
Persistent link: https://www.econbiz.de/10011447633