the language of those statements) during recession …

We examine how the language used by central bank officials in public press conferences influences stock returns in the … euro area. In line with the concept of Odyssean Forward Guidance, we find that using constraining language to express … analysis, we provide strong evidence that market participants interpret higher levels of uncertain language in the economic …

meaning beyond their use in a particular context and setting. It studies coded language to explain why a central bank …'s decisions and communicative interactions can't be devoted to a coded language which is an artificial language …