Showing 61 - 70 of 160,490
intensive central bank communication worsens the perceived impact. During the global financial crisis (GFC), this effect became …
Persistent link: https://www.econbiz.de/10012822449
Central banks emphasize the use of communication as a tool of monetary policy. As central banks increasingly recognize … tailor their communication strategies for a broader audience. Most research focuses on central bank communication with … financial markets, but several recent strands of literature address aspects of communication with households. I survey the …
Persistent link: https://www.econbiz.de/10012969118
We construct a novel text dataset to measure the sentiment component of communications for 23 central banks over the 2002-2017 period. Our analysis yields three results. First, comovement in sentiment across central banks is not reducible to trade or financial flow exposures. Second, sentiment...
Persistent link: https://www.econbiz.de/10012857886
In this paper we analyze whether central bank communication can facilitate the understanding of key economic concepts … Fisher Equation, the Taylor rule and the Phillips curve and test, by accounting for three different communication channels … evidence that central bank communication as well as news on monetary policy can facilitate the understanding of those concepts …
Persistent link: https://www.econbiz.de/10013021981
economics literature has investigated select aspects of monetary policy communication, the literature in this area remains … disconnected from other relevant social science theories and techniques, most notably in political communication and media studies … different sectors to different types of communication events. I find that coverage of the Fed is less frequent than coverage of …
Persistent link: https://www.econbiz.de/10012983714
the effects different communication strategies have on financial markets. It is shown that the communication strategy of … shown that communication in the form of voting records has the greatest effect on market participants' near term policy … expectations. These results support findings of the empirical literature and have strong implications for the optimal communication …
Persistent link: https://www.econbiz.de/10012991250
. Communication has become an effective auxiliary instrument of economic policy, and markets started paying precise attention to the … provide an overview of recent trends and developments in central bank communication strategies. By resorting to the existing … literature, we analyze the origins of central bank communication and the evolution of its role in time. We also study the main …
Persistent link: https://www.econbiz.de/10012923581
Does it matter what the central bank had said during a monetary policy announcement? The paper proposes a new approach to identifying the effects of forward guidance taking into account what the central bank had said and how financial markets perceived it. I use computational linguistic methods...
Persistent link: https://www.econbiz.de/10013233323
-FX correlations. I find that a negative tone in central banks’ communication results to a lower stock-bond correlation, which supports …
Persistent link: https://www.econbiz.de/10013249487
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