talk about the economy? We propose a simple framework that allows us to estimate communication rules in the United States … based on text analysis with regularized regressions. We find strong evidence for systematic communication rules that vary …’s communication rule and use it to investigate how much of the disagreement between the market and the Fed come from disagreement …

Press releases announcing and explaining monetary policy decisions play a critical role in the communication strategy …

that communication plays a significant role in enhancing the accuracy when trying to estimate the bank's reaction function …

This paper examines whether central bank communication stabilises euro area inflation expectations through the … visitors’ attention to its communication. We conduct several econometric tests with daily data to measure the impact of ECB … communication on the information demand of the public and ultimately on inflation expectations. Overall, this study shows that …

While it has become clear that communication is a monetary policy tool for central banks, and extensive research has … been conducted on central bank communication with financial markets, little is known so far on central bank communication … European Central Bank (ECB) and on understanding of its communication about the Pandemic Emergency Purchase Programme, which …

Why do long-run interest rates respond to central bank communication? Whereas existing explanations imply a common set …-run rates and operate primarily through the term premium. This suggests communication plays an important role in shaping …

Monetary policy communication is particularly important during unconventional times, because high uncertainty about the … predictability of policy actions. We study how monetary policy communication should and has worked under such circumstances. Our main …

Central banks have intensified their communication with non-experts – an endeavour which some have argued is bound to … fail. This paper studies English and German Twitter traffic about the ECB to understand whether its communication is … received by non-experts and how it affects their views. It shows that Twitter traffic is responsive to ECB communication, also …

While the established literature on central bank communication has traditionally dealt with communication of monetary … policy messages to financial markets and the wider public, central bank communication on fiscal policy has so far received … little attention. This paper empirically reviews the intensity of central banks' fiscal communication by five central banks …