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Speeches are an important vehicle for central bankers to convey individual views on the preferred policy stance. In …,618 speeches delivered by members of the Governing Council (GC) during the period 1999M1..2014M4. We then relate this variable to …-specific macroeconomic conditions matter for speeches delivered inside the central banker's home country but not for those made abroad …
Persistent link: https://www.econbiz.de/10010459203
Speeches are an important vehicle for central bankers to convey individual views on the preferred policy stance. In …,618 speeches delivered by members of the Governing Council (GC) during the period 1999M1-2014M4. We then relate this variable to …-specific macroeconomic conditions matter for speeches delivered inside the central banker's home country but not for those made abroad …
Persistent link: https://www.econbiz.de/10011202983
Persistent link: https://www.econbiz.de/10011811173
In this paper, we analyze the determinants of speeches by Federal Reserve (Fed) officials over the period January 1998 … the subjectively coded content of these speeches. Our results are, first, that Fed Governors and presidents follow a …) likely. Second, the content of speeches by Fed presidents is affected by both regional and national macroeconomic variables …
Persistent link: https://www.econbiz.de/10010286370
In this paper, we analyze the determinants of US monetary policy stance as expressed in speeches by Federal Reserve … national macroeconomic variables to explain the content of these speeches. Our results are, first, that a rise in the inflation … district, its content is influenced by both regional and national macroeconomic variables, whereas speeches given outside the …
Persistent link: https://www.econbiz.de/10010617295
In this paper, we analyze the determinants of U.S. monetary policy stance as expressed in speeches by Federal Reserve … national macroeconomic variables to explain the content of these speeches. Our results are, first, that Fed governors and … and national macroeconomic variables, whereas speeches given outside the home district are influenced solely by national …
Persistent link: https://www.econbiz.de/10008833976
This paper explores the relationship between central bank communication and market sentiment,and proposes a new measure. Market sentiment is proxied using a Twitter-based metric: theCentral Bank Surprise Index. The empirical study covers three cases: the Federal Reserve, theEuropean Central Bank...
Persistent link: https://www.econbiz.de/10012210744
Leaks of confidential information emanating from public institutions have been the focus of a long-standing line of research. Yet, their determinants as well as their potential impact on public views and on policy effectiveness remain elusive. To address this gap, we study leaks from central...
Persistent link: https://www.econbiz.de/10014380707
This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that...
Persistent link: https://www.econbiz.de/10011450560
Successfully managing a course back to normality ("exit") will depend crucially on the central banks' ability to communicate effectively a credible strategy for an orderly exit from such kind of policies. In this context, clear, deliberate, coordinated messages that are anchored in the central...
Persistent link: https://www.econbiz.de/10011691556