Carotta, Gianni; Mello Costa, Miguel; Ponce, Jorge - In: Latin American journal of central banking : LAJCB 4 (2023) 3, pp. 1-17
We contribute new empirical evidence on monetary policy communication and inflation expectations by firms. First, we … construct a new indicator of the perceived tone of monetary policy communication that complements traditional indicators of the …’ inflation expectations as the dependent variable, suggesting that communication has an important effect over inflation …