-world developments have spawned a huge new scholarly literature on central bank communication —mostly empirical, and almost all of it … and powerful part of the central bank’s toolkit since it has the ability to move financial markets, to enhance the …

expectations. This paper analyses empirically whether enhanced central bank transparency lowers dispersion among professional … forecasters of key economic variables, using a large set of proxies for central bank transparency in 12 advanced economies. It … finds evidence for a significant and sizeable effect of central bank transparency on forecast dispersion, be it by means of …

interest rates in the United States and the euro area. First, the paper finds that the interdependence of money markets has … large and significant effect on euro area money markets, and that these effects have become stronger in recent years …. This indicates that the higher money market interdependence between the United States and the euro area is at least partly …

required, might then be harder to understand. Using variation in the drafting process at the Bank of Canada, this paper studies … the extent to which similarity in central bank statements matters for the reception of their content in financial markets …

economy, the introduction of new policy tools and possible limits to the central bank's toolkit could hamper the … only a short horizon, and that the credibility of forward guidance is strengthened if the central bank also has embarked on …

straightforward to compare statements and see how the central bank's thinking has evolved. This paper studies to what extent such … similarity in central bank statements matters for the reception of their content in financial markets. Using the case of the Bank … of Canada (the G7 central bank that had to rely the least on unconventional monetary policy following the global …