'Decoding' Policy Perspectives : Structural Topic Modelling of European Central Bankers' Speeches

This research analyzes the speeches and interviews of high-level European Central Bank decision-makers from 1997 to 2021 to identify clusters of prominent topics. Transparency is a crucial aspect of modern monetary policy, and public speeches and interviews by central bankers play a vital role in achieving it. Our study employs structural topic modeling to compare the prevalence of topics during the Global Financial Crisis and pandemic-induced crisis. Additionally, we explore the impact of central bank independence on official rhetoric