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Complexity of ECB communication and financial market trading

Hayo, Bernd; Henseler, Kai; Rapp, Marc Steffen - 2019

We examine howthe verbal complexity of ECB communications affectsfi-nancial market trading based on high-frequency data fromEuropean stock index futures trading. Studying the 34 events between May 2009 and June 2017, during which the ECB Governing Council press conferences covered unconventional...

Persistent link: https://www.econbiz.de/10012039675

Preselection and expert advice

Schulte, Elisabeth; Felgenhauer, Mike - 2015

We study the effects of preselection on an expert's incentive to give truthful advice in a decision environment in which certain decisions yield more precise estimates about the expert's expertise. The introduction of a preselection stage, in which the decision maker can study the case before...

Persistent link: https://www.econbiz.de/10011302441

Identification of individuals and groups in a public goods experiment

Christens, Sven; Dannenberg, Astrid; Sachs, Florian - 2017

, we only find a small and temporary effect of identification, irrespective of the type of communication. The reason for …

Persistent link: https://www.econbiz.de/10011773441

ECB vs Bundesbank : diverging tones and policy effectiveness

Tillmann, Peter; Walter, Andreas - 2018

(ii) a large divergence of tone after 2009. The ECB communication becomes persistently more optimistic and less uncertain …-term interest rates respond less strongly to a monetary policy shock if ECB-Bundesbank communication is more cacophonous than on …

Persistent link: https://www.econbiz.de/10011858943

Central banks' predictability : an assessment by financial market participants

Hayo, Bernd; Neuenkirch, Matthias - 2016 - This version: 6 April 2016

their assessment of central bank communication skills and success in conveying objectives as well as the importance of … and their overall communication skills on the one hand, and market participants' perception of the banks' predictability …

Persistent link: https://www.econbiz.de/10011447633

Federal reserve communications and newswire coverage

Neuenkirch, Matthias - 2013 - This version: 01 August 2013

by Board members. Nevertheless, media coverage of Fed president speeches is more likely if central bank communication is …

Persistent link: https://www.econbiz.de/10009751154

Central bank communication in the financial crisis : evidence from a survey of financial market participants

Hayo, Bernd; Neuenkirch, Matthias - 2014 - This version: 9 January 2014

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/10010226327

Financial markets and ECB monetary policy communication - a second QE surprise

Baumgärtner, Martin - 2022 - Draft: January 25, 2022

This paper shows that a different communication style of the European Central Bank (ECB) affects stock prices … differently. A break in the ECB's communication from 2016 onwards makes it necessary to adjust the identification of monetary …

Persistent link: https://www.econbiz.de/10012803259

Whatever it takes to understand a central banker : embedding their words using neural networks

Baumgärtner, Martin; Zahner, Johannes - 2021 - Draft: August 2, 2021

Dictionary approaches are at the forefront of current techniques for quantifying central bank communication. This paper … bank communication literature, as well as introduce a novel approach to text quantification from computational linguistics …

Persistent link: https://www.econbiz.de/10012608497

Leadership communication and COVID-19 vaccination hesitancy

Klotz, Phil-Adrian - 2022

This paper empirically analyzes the impact of leadership communication on the COVID-19 vaccination rate using a quasi … robustness of this result by applying an event study design. Our findings imply that leadership communication is an effective …

Persistent link: https://www.econbiz.de/10012819308