Search Results - subject_exact:"Government communication"

Arispe Tejada, Samuel; Mariño Fages, Diego - 2025

In this comment, we computationally reproduce the results of Linos et al. (2024), which shows contrary to researcher and practitioner predictions, that formal government communications are more effective at influencing resident behavior than informal government communications. We succeeded in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015437515

Facts or feelings? : the role of relatable narratives in shaping inflation expectations

Ludolph, Melina; Giang Hong Nghiem; Tonzer, Lena - 2026

We examine whether combining factual information on inflation levels and forecasts with a narrative can persistently shape consumers' inflation expectations. In a preregistered randomized controlled trial with a representative sample of 3,000 German consumers, participants received either...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015654676

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Facts or feelings? : the role of relatable narratives in shaping inflation expectations

Ludolph, Melina; Giang Hong Nghiem; Tonzer, Lena - 2026

Book / Working Paper

Social media as a monetary policy tool? : evidence from a survey experiment

Simpartl, Josef - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015610402

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Social media as a monetary policy tool? : evidence from a survey experiment

Simpartl, Josef - 2025

Book / Working Paper

The effect of increased transparency on an individualistic monetary policy committee

Apel, Mikael; Blix Grimaldi, Marianna; Ahrenberg, Lars; … - 2026

Most empirical research on the effects of transparency on monetary policy committees is based on a natural experiment in 1993 at the Federal Reserve, when it was decided that transcripts of meetings would be released with a five-year lag. Evidence is found of both a conformity effect (reluctance...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015612448

Higher-order forward guidance

Dordal i Carreras, Marc; Lee, Seung Joo - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015578338

Every signal counts : effects of ECB presidents' textual and voice sentiments on financial markets

Jurkšas, Linas; Kaminskas, Rokas; Akstinaitė, Vita - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015605059

Central Bank independence, transparency, and interaction with fiscal policy : the case of a small open economy

Trabelsi, Emna - 2026

This study examines the determinants of inflation volatility in Tunisia, focusing on central bank independence (CBI), economic transparency, and macroeconomic fundamentals. Although CBI is widely regarded as essential for monetary credibility, its effectiveness depends on its institutional...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015626050

Central bank communication on financial stability : a shadowed sibling? : the tale of Central Europe

Martin, Reiner; Mohácsi, Piroska Nagy; Evdokimova, Tatiana - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015627248

The architecture of central bank transparency : accounting information and financial stability as structural pillars of Monetary Policy Transparency

Bhiri, Sana; BenMabrouk, Houda - 2026

This article offers a structural reappraisal of central bank Monetary Policy Transparency (MPT) by explicitly incorporating two dimensions that have long remained peripheral in the literature: Accounting Information Transparency (AIT) and Financial Stability Transparency (FST). Building on a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015628630

Extraordinary forward guidance in Canada during the pandemic

Sutherland, Christopher - 2026 - Last updated: January 19, 2026

We consider two trade-offs inherent to extraordinary forward guidance (EFG): potency versus flexibility, and the credibility of forward guidance versus the credibility of inflation targeting.We argue that the form of EFG used by the Bank of Canada during the COVID‑19 pandemic balanced both...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015637561

ECB exchange rate communication

Comazzi, Fabio; Domenech Palacios, Mar; Ehrmann, Michael; … - 2026

We revisit the debate on the effectiveness of central bank communication on exchange rates, contrasting a skeptical view, which holds that communication neither moves exchange rates nor influences them in the desired direction, with an optimistic view that it does. Using nearly 100 official ECB...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015641414

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ECB exchange rate communication

Comazzi, Fabio; Domenech Palacios, Mar; Ehrmann, Michael; … - 2026

Book / Working Paper

Reconceptualizing central bank transparency : a multidimensional index and its implications for international equity portfolio allocation

Bhiri, Sana; BenMabrouk, Houda - 2026

This paper examines the influence of Monetary Policy Transparency on Foreign Equity Portfolio Allocation by addressing the informational frictions that shape cross-border investment in Financial Markets. Building on recent developments in central bank communication, we construct a...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015643313

Central bank crisis interventions and the term structure of market fear

Bevilacqua, Mattia; Daníelsson, Jón; Ergun, Lerby; … - 2026 - Last updated: May 25, 2026

We study the impact of Fed crisis interventions on market fears - the perceived risk of large asset price drops. To do so, we develop a methodological framework that allows us to evaluate the causal effect of unexpected Fed actions on changes in market fears. We extract daily fear term...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655620

The Fed's fine-tune : coarse statements and predictive pressers

Byun, Ryan; Fees, Bennett; Jacobson, Margaret M.; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015653204

Can central bank communication guide individuals' expectations about the macroeconomy? : evidence from a randomized information experiment in China

Jin, Yuying; Xia, Sunyao - 2026

Communication with the market to guide public expectations has become a pivotal monetary policy instrument for central banks worldwide. Therefore, assessing the efficacy of communication in influencing personal expectations is essential for central banks. To examine the effectiveness of...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015633661

The connection between monetary policy and housing prices : public perception and expert communication

Poyntner, Philipp; Waltl, Sofie - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015575067

Sentiment matters : financial impact of tonal characteristics of FOMC communication

Sert, Mehmet Fatih; Usta, Ahmet - 2026

This paper empirically examines the relationship between the tonal characteristics of FOMC textual communications and key financial market variables, notably the VIX index and its subcomponents: uncertainty and risk aversion. Using textual analysis of FOMC statements and minutes from 2006 to...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015666457

Central bank communication on financial stability : a shadowed sibling?

Martin, Reiner; Nagy Mohácsi, Piroska; Evdokimova, Tatiana - 2026

Central bank communication on financial stability has been less studied than on monetary policy. Our paper aims to contribute to the growing literature in this area. Our focus is the region of Central Europe, where financial sectors are intertwined through close cross-border ownership, and about...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015677950

Deciphering delphic guidance : the bank of England and geopolitical uncertainty

Jagjit S, Chadha; Macchiarelli, Corrado; Goel, Satyam; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015652482

Green finance : beyond transparency

Hilbrich, Sören; Berensmann, Kathrin - 2026

Financial markets still provide financing on a large scale for investments in environmentally harmful activities, while projects conducive to the green transformation are often not funded. Sustainable finance policies, such as new reporting requirements and standards for sustainable financial...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015650911

Central bank communication: new data and stylized facts from a century of Fed speeches

Lustenberger, Thomas; Rossi, Enzo; Zeitz, Anna - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015672523

Bayesian Persuasion and cryptography

Azar, Pablo D. - 2026

Bayesian Persuasion assumes that a sender can commit ex ante to an information structure and then release the realized signal ex post. This paper asks when that commitment technology can itself be implemented. After observing the state, a sender who also observes the realized signal can suppress...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015644236

Anchors aweigh? : the effect of communicating forecast uncertainty

McMahon, Michael; Naylor, Matthew; Rholes, Ryan; … - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015667682

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Anchors aweigh? : the effect of communicating forecast uncertainty

McMahon, Michael; Naylor, Matthew; Rholes, Ryan; … - 2026

Book / Working Paper

Central bank communications that reach the public

Tong, Eric; Cherry, Rennae - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063616

Anchoring inflation expectations : a teaching treatment and its persistence through the 2025 German federal election

Gockel, Christine; Strohsal, Till - 2026

We study how inflation expectations can be anchored through different forms of communication and whether such anchoring survives political change. Using a two-wave panel RCT around the 2025 German federal election, we show that providing the ECB's target and projections lowers expectations by...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015635198

Embracing the future : tense patterns and forward-looking central bank communication

Amati, Andrea Guerrieri D; Hassall, Gavin - 2026

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016062182

Learning to listen? : Fed communication, global risk sentiment, and emerging market capital flows

Ellis, Colin - 2026

This paper examines the relationship between Federal Open Market Committee (FOMC) communication surprises, global risk sentiment, and net portfolio debt inflows to twelve major emerging market economies over the period 2000-2024. Exploiting a high-frequency U.S. Monetary Policy Event-Study...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10016063989

A Comment on "The formality effect"

Arispe Tejada, Samuel; Marino Fages, Diego - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015436002

Fed-driven systemic tail risk : high-frequency measurement, evidence and implications

Erdemlioglu, Deniz; Neely, Christopher J.; Yang, Xiye - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10014320683

Beyond trends : pension-TikTok's and effect on pension engagement

Blokzijl, Jesse; Tex, Niek den; Eijer, Colin; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015205416

The signaling effects of tightening and easing monetary policy

Hubert, Paul; Portier, Rose - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655405

Talking heads : public communication policies in an international economy

Kempf, Hubert; Kuznetsova, Olga S. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015655408

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Talking Heads. Public Communication Policies in an International Economy

Kempf, Hubert; Kuznetsova, Olga S. - 2023

Book / Working Paper

Long-run inflation expectations

Fisher, Jonas D. M.; Melosi, Leonardo; Rast, Sebastian - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015671028

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Long-run inflation expectations

Fisher, Jonas D. M.; Melosi, Leonardo; Rast, Sebastian - 2025

Book / Working Paper

Long-run inflation expectations

Fisher, Jonas D. M.; Melosi, Leonardo; Rast, Sebastian - 2025

Book / Working Paper

Long-run inflation expectations

Fisher, Jonas D. M.; Melosi, Leonardo; Rast, Sebastian - 2025

Book / Working Paper

Central Bank Communication with the Polarized Public

Kuang, Pei; Weber, Michael; Xie, Shihan - 2025

This paper examines the impact of political polarization on public trust in the Fed and its influence on macroeconomic expectations. Using a large-scale survey experiment which we fielded on President Trump's 2025 inauguration day, we study how households form beliefs about the Fed regarding its...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015326517

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Central bank communication with the polarized public

Kuang, Pei; Weber, Michael; Xie, Shihan - 2025

Book / Working Paper

Central bank communication with the polarized public

Kuang, Pei; Weber, Michael; Xie, Shihan - 2025

Book / Working Paper

The fed and the secular decline in interest rates

Hillenbrand, Sebastian - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015371045

Transparency and policymaking with endogenous information provision

Li, Hanzhe - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015372957

Does sentiment in Fed governors' speeches shape US equity market sectors?

Arshad, Asma; Rizwan, Muhammad Suhail - 2025

This paper investigates the responsiveness of US equity sectors to the sentiments conveyed by the speeches of the governors of the US Federal Reserve (the Fed). Using principal component analysis of the scores of four Lexicon dictionaries to analyze speeches from June 1, 1996, to September 30,...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015334491

Word2Prices: embedding central bank communications for inflation prediction

Araujo, Douglas Kiarelly Godoy de; Bokan, Nikola; … - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015411796

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Word2Prices: embedding central bank communications for inflation prediction

Araujo, Douglas Kiarelly Godoy de; Bokan, Nikola; … - 2025

Book / Working Paper

Word2Prices : embedding central bank communications for inflation prediction

Araujo, Douglas Kiarelly Godoy de; Bokan, Nikola; … - 2024

Book / Working Paper

Exploring the effectiveness of digital manipulation disclosures for Instagram posts on source credibility and authenticity of social media influencers

Mucundorfeanu, Meda; Balaban, Delia Cristina; Mauer, Marius - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015194218

Disclosing transparency : a review of B2B marketing and supply chain research

Nawaz, Raja Rub; Wagner, Ralf - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015173270

Crisis and risk communication in a pandemic : insights from local governments' experience with COVID-19

Siar, Sheila V.; Lorenzo, Pauline Joy M. - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015176828

Tales of turbulence : BERT-based multimodal analysis of FED communication dynamics amidst COVID-19 through FOMC minutes

Taskin, Bilal; Akal, Fuat - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015195759

Republic of Azerbaijan : Technical Assistance Report-Modernizing Central Bank Communication

2025

This report presents an analysis of the Central Bank of the Republic of Azerbaijan's (CBA) communication framework and offers recommendations for enhancement. The technical assistance mission, led by the IMF Monetary and Capital Markets Department, aimed to modernize the CBA's communication...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015328040

ECB's evolving communication and policy preferences since 2021 strategy review

Haavio, Markus; Heikkinen, Joni; Jalasjoki, Pirkka; … - 2025

We study the evolution of the European Central Bank's (ECB) monetary policy since July 2021, following the adoption of a new strategy and amid a period of volatile inflation. Utilizing text analysis, we assess changes in the general sentiment of the ECB's communication. Additionally, we employ...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015329445

Monetary-Intelligent Language Agent (MILA)

Geiger, Felix; Kanelis, Dimitrios; Lieberknecht, Philipp; … - 2025

Central bank communication has become a crucial tool for steering the monetary policy stance and shaping the outlook of market participants. Traditionally, analyzing central bank communication required substantial human effort, expertise, and resources, making the process time-consuming. The...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015394304

Emotion in euro area monetary policy communication and bond yields : the Draghi era

Kanelis, Dimitrios; Siklos, Pierre L. - 2025

We combine modern methods from Speech Emotion Recognition and Natural Language Processing with high-frequency financial data to precisely analyze how the vocal emo- tions and language of ECB President Mario Draghi affect the yields and yield spreads of major euro area economies. This novel...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015419938

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Emotion in Euro Area Monetary Policy Communication and Bond Yields : The Draghi Era

Kanelis, Dimitrios; Siklos, Pierre L. - 2023

Book / Working Paper

Emotion in euro area monetary policy communication and bond yields : the Draghi era

Kanelis, Dimitrios; Siklos, Pierre L. - 2022

Book / Working Paper

Household expectations and dissent among policymakers

Grebe, Moritz; Tillmann, Peter - 2025

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015421525

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Household expectations and dissent among policymakers

Grebe, Moritz; Tillmann, Peter - 2022

Book / Working Paper

Household expectations and dissent among policymakers

Grebe, Moritz; Tillmann, Peter - 2022

Book / Working Paper

On the collection of MiFIR transparency data : an application to the ECB eligible marketable assets

Camba-Méndez, Gonzalo; Darecki, Jan Jerzy; Manzanares, … - 2025

One of the main goals of launching the EU's second Markets in Financial Instruments Directive (MiFID II) and the respective Markets in Financial Instruments Regulation (MiFIR) was to increase the transparency of transactions in financial markets. Prior to MiFID II, transparency requirements in...

Persistent link: https://ebvufind01.dmz1.zbw.eu/10015423377