Writing Clearly: ECB's Monetary Policy Communication
The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB''s written communication as clear about 95 percent of instances, which is comparable to,...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2008
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 08/252 |
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB''s written communication as clear about 95 percent of instances, which is comparable to, or even better than, other central banks for which a similar analysis is available. We also find that the additional information contained in the ECB''s Monthly Bulletins helps to improve communication clarity compared to ECB''s press releases. In particular, the Bulletins contain useful clarifying information on individual inflation factors and the overall forecast risk; in contrast, the bulletin''s communication on monetary shocks has a negative, albeit small, impact on clarity |
| Beschreibung: | Includes bibliographical references |
| Beschreibung: | 1 Online-Ressource (34 p) |
| ISBN: | 1451871104 9781451871104 |
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| illustrated | Not Illustrated |
| index_date | 2024-07-03T20:13:26Z |
| indexdate | 2024-07-10T09:35:34Z |
| institution | BVB |
| isbn | 1451871104 9781451871104 |
| language | English |
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| psigel | ZDB-1-IMF |
| publishDate | 2008 |
| publishDateSearch | 2008 |
| publishDateSort | 2008 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Working Papers |
| spelling | Cihák, Martin Verfasser aut Writing Clearly ECB's Monetary Policy Communication Cihák, Martin Washington, D.C International Monetary Fund 2008 1 Online-Ressource (34 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 08/252 Includes bibliographical references The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB''s written communication as clear about 95 percent of instances, which is comparable to, or even better than, other central banks for which a similar analysis is available. We also find that the additional information contained in the ECB''s Monthly Bulletins helps to improve communication clarity compared to ECB''s press releases. In particular, the Bulletins contain useful clarifying information on individual inflation factors and the overall forecast risk; in contrast, the bulletin''s communication on monetary shocks has a negative, albeit small, impact on clarity Online-Ausg Banks and banking, Central Europe Econometric models Communication Europe Econometric models Monetary policy Europe Econometric models European Central Bank / Econometric models Electronic books Bulir, Ales Sonstige oth Smídková, Katerina Sonstige oth http://elibrary.imf.org/view/IMF001/09692-9781451871104/09692-9781451871104/09692-9781451871104.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Cihák, Martin Writing Clearly ECB's Monetary Policy Communication Banks and banking, Central Europe Econometric models Communication Europe Econometric models Monetary policy Europe Econometric models |
| title | Writing Clearly ECB's Monetary Policy Communication |
| title_auth | Writing Clearly ECB's Monetary Policy Communication |
| title_exact_search | Writing Clearly ECB's Monetary Policy Communication |
| title_exact_search_txtP | Writing Clearly ECB's Monetary Policy Communication |
| title_full | Writing Clearly ECB's Monetary Policy Communication Cihák, Martin |
| title_fullStr | Writing Clearly ECB's Monetary Policy Communication Cihák, Martin |
| title_full_unstemmed | Writing Clearly ECB's Monetary Policy Communication Cihák, Martin |
| title_short | Writing Clearly |
| title_sort | writing clearly ecb s monetary policy communication |
| title_sub | ECB's Monetary Policy Communication |
| topic | Banks and banking, Central Europe Econometric models Communication Europe Econometric models Monetary policy Europe Econometric models |
| topic_facet | Banks and banking, Central Europe Econometric models Communication Europe Econometric models Monetary policy Europe Econometric models |
| url | http://elibrary.imf.org/view/IMF001/09692-9781451871104/09692-9781451871104/09692-9781451871104.xml |
| work_keys_str_mv | AT cihakmartin writingclearlyecbsmonetarypolicycommunication AT bulirales writingclearlyecbsmonetarypolicycommunication AT smidkovakaterina writingclearlyecbsmonetarypolicycommunication |