We apply facial recognition analysis to FOMC press conference videos and quantify one of the most important aspects of nonverbal communication - facial expressions. Using minute-level data, we align our nonverbal communication measure with a set of financial assets to estimate the impact of the...

This paper studies central bank website characteristics of a large set of central banks. We introduce a methodology to systematically derive and quantify these characteristics along the dimensions of textual content, visual presentation, and website performance. We then conduct a survey to...

This paper investigates the characteristics of central bank websites across a large sample of central banks. We systematically derive and quantify these characteristics across three dimensions: text, visual presentation, and website performance. We then conduct a survey to isolate the main...

This paper examines how central banks can strategically integrate artificial intelligence (AI) to enhance their operations. Using a dual-framework approach, we demonstrate how AI can transform both strategic decision-making and daily operations within central banks, taking the Federal Reserve...

We study the 'interconnectedness' of stress-tested banks by exploiting how they are mentioned together in the context of financial news. We start by constructing weekly co-occurrence network matrices following Ronnqvist and Sarlin (2015) text-to-network approach. Using the COVID-19 pandemic as...

We use text-mining techniques to measure the accessibility and quality of information within the texts of interest rate announcements published by the Bank of Israel over the past decade. We find that comprehension of interest rate announcements published by the Bank of Israel requires fewer...