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Interest Rate Setting and Communication at the ECB

Cour-Thimann, Philippine - 2020

Based on ordered Probit models and twenty years of euro area data, we estimate empirical reaction functions for the ECB´s monetary policy and augment them with communication indicators. First, we find that the ECB responded to risks to price stability in line with its primary objective, and...

Persistent link: https://www.econbiz.de/10012828078

Language after liftoff : fed communication away from the zero lower bound

Feroli, Michael; Greenlaw, David; Hooper, Peter; … - In: Research in economics : an international review of economics 71 (2017) 3, pp. 452-490

Persistent link: https://www.econbiz.de/10011878832

Words are not all created equal : a new measure of ECB communication

Picault, Matthieu; Renault, Thomas - In: Journal of international money and finance 79 (2017), pp. 136-156

Persistent link: https://www.econbiz.de/10011788356

Bank of Canada communication and the predictability of Canadian monetary policy

Hayo, Bernd; Neuenkirch, Matthias - 2009

We explain changes in the Canadian target rate using macroeconomic variables and Bank of Canada (BOC) communication indicators. Econometrically, we employ an ordered probit model of a Taylor rule to predict 60 target rate decisions between 1998 and 2006. We find that BOC communication is...