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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 Council press conferences covered unconventional...
Persistent link: https://www.econbiz.de/10012039675
We measure soft information contained in the congressional testimonies of U.S. Federal Reserve Chairs and analyze its effect on financial markets. Our measures of Fed Chairs' emotions expressed in words, voice and facial expressions are created using machine learning. Increases in the Chair's...
Persistent link: https://www.econbiz.de/10013189228
The study explores how central bank communication affects the movement of exchange rates. The paper constructs … central bank communication into a variety of topics. The results indicate that EUR-USD responds most strongly to topics of …
Persistent link: https://www.econbiz.de/10012848876
In this paper, we study whether central bank communication has a positive effect on market participants' perception of … that central bank communication has a positive effect on how central banks are perceived and understood, as it enhances …
Persistent link: https://www.econbiz.de/10010356195
In this paper, we study whether central bank communication has a positive effect on market participants’ perception of … that central bank communication has a positive effect on how central banks are perceived and understood, as it enhances …
Persistent link: https://www.econbiz.de/10010226327
In this paper, we study the influence of central bank transparency and informal central bank communication on the …
Persistent link: https://www.econbiz.de/10013115559
The paper aims to estimate the effects of the European Central Bank communications on the sectoral returns of STOXX Europe 600 from 2013 to 2021. Previous literature has investigated the effects of communications of central banks and checked their effects on macroeconomics and financial data....
Persistent link: https://www.econbiz.de/10013288849
management of “Impossible Trinity” impact the communication strategies adopted by Reserve Bank of India (RBI) and the credibility …The Communication strategy for central banks is traditionally interlinked with one of their important mandates … more closely synchronised with its own, through the art of communication. However, the management of “Impossible Trinity …
Persistent link: https://www.econbiz.de/10013107237
We study the effects of central bank communication about financial stability on individuals’ expectations and risk …-taking. Using a randomized information experiment, we show that communication causally affects individuals’ beliefs and investment … behavior, consistent with an expectations channel of financial stability communication. Individuals receiving a warning from …
Persistent link: https://www.econbiz.de/10012489541
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