Bulíř, Aleš; Číhak, Martin; Jansen, David-Jan - de Nederlandsche Bank - 2014
We study whether clarity of central bank inflation reports affects return volatility in financial markets. We measure … clarity of reports by the Czech National Bank, the European Central Bank, the Bank of England, and Sveriges Riksbank using the … Flesch-Kincaid grade level, a standard readability measure. We find some evidence, mainly for the euro area, of a negative …