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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
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 …” in the context of Emerging Market Economies expands the scope of communication strategy of central banks to horizons …
Persistent link: https://www.econbiz.de/10013107237
This paper assesses the quality of the CBC's communication policy by looking at the predictability and effectiveness of … for the three major communication channels of the CBC: the release of policy meetings' statements, minutes, and monetary … monetary policy surprises associated with meeting statements and the impact of the above communication channels on asset …
Persistent link: https://www.econbiz.de/10012913882
In this paper, we analyze whether central bank communication can be an additional tool to provide guidance on monetary … prices down (up). Overall, our analysis suggests that communication may be a complementary and effective monetary policy tool …
Persistent link: https://www.econbiz.de/10014238015
We quantify the informational content of statements issued by the interest-rate setting committee of the Central Bank of Brazil (COPOM), building on the methodology developed by Lucca and Trebbi (2011). Using Google search queries, we measure the extent to which each COPOM statement is perceived...
Persistent link: https://www.econbiz.de/10010199541
. This article surveys a rapidly-growing literature on central bank communication with the public. We first discuss why and … how such communication is more challenging than communicating with expert audiences. Then we survey the empirical evidence …
Persistent link: https://www.econbiz.de/10013329414
This paper summarizes the results of a Survey on Monetary policy Communication conducted among central banks in Central … transparency and communication strategies of the central banks. The results of the Survey reveal that today the central banks pay … process. The overall conclusion of the Monetary policy communication Survey is that the communication and the transparency of …
Persistent link: https://www.econbiz.de/10011717595
central banks. Overall, our results suggest that central bank communication contains systematic biases that could lead to …
Persistent link: https://www.econbiz.de/10011911134
that communication plays a significant role in enhancing the accuracy when trying to estimate the bank's reaction function. …
Persistent link: https://www.econbiz.de/10011669467
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