This paper presents an interest group theory of central bank independence. The theory is grounded in the concept of …

language processing (NLP) algorithms have been used to analyze central bank communications. These outdated bag-of-words methods …-learning-based NLP algorithms, also known as large language models (LLMs), which take context into account. This study applies LLMs to … central bank communications. The absence of large-language models in the central bank communications literature may be …