The Resource Writing clearly : ECB's monetary policy communication, Ales Buliř, Martin Čihák, and Kateřina Smidková ; authorized for distribution by Enrica Detragiache and Luc Everaert

Writing clearly : ECB's monetary policy communication, Ales Buliř, Martin Čihák, and Kateřina Smidková ; authorized for distribution by Enrica Detragiache and Luc Everaert

Label
Writing clearly : ECB's monetary policy communication
Title
Writing clearly
Title remainder
ECB's monetary policy communication
Statement of responsibility
Ales Buliř, Martin Čihák, and Kateřina Smidková ; authorized for distribution by Enrica Detragiache and Luc Everaert
Creator
Contributor
Subject
Genre
Language
  • eng
  • eng
Summary
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 o
Member of
Cataloging source
MiAaPQ
http://library.link/vocab/creatorName
Buliř, Aleš
Dewey number
332.11094
Illustrations
illustrations
Index
no index present
Language note
English
LC call number
HG2976
LC item number
.B855 2008
Literary form
non fiction
Nature of contents
  • dictionaries
  • bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Čihák, Martin
  • Šmídková, Kateřina
  • Detragiache, Enrica
  • Everaert, Luc
Series statement
  • IMF working paper
  • IMF Working Papers
Series volume
WP/08/252
http://library.link/vocab/subjectName
  • European Central Bank
  • Banks and banking, Central
  • Communication
  • Monetary policy
Label
Writing clearly : ECB's monetary policy communication, Ales Buliř, Martin Čihák, and Kateřina Smidková ; authorized for distribution by Enrica Detragiache and Luc Everaert
Instantiates
Publication
Copyright
Note
Description based upon print version of record
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Content category
text
Content type code
txt
Contents
  • Contents; I. Introduction; II. Motivation and Literature Overview; A. Communicating Clearly; B. Literature on Monetary Policy Communication; III. Methodology and Data; A. Methodology ("Central Bank Watching for Dummies"); Tables; 1. Slope Coefficient in a Regression of Actual and Forecasted Policy Rate Changes; Figures; 1. Correlation of Actual and Forecasted Policy Rate Changes; 2. GARCH Estimate of the Policy Rule for the ECB; 3. Parameterization Overview; B. Data; 2. Euro Area: Actual Inflation, Inflation Targets, and Inflation Expectations
  • 4. Inflation Factors and Their Serial Correlation5. Comparison with the KOF MPC Index; C. ECB Watching; 3. ECB Bulletins: Inflation Factors; 4. ECB: Central Bank Watching; IV. Results; A. Press Statements Only; B. Monthly Bulletins: Shock Descriptions; 5. Press Statements Only; C. Monthly Bulletins: Shock Descriptions and Forecast Risk Assessment; 6. ECB Bulletin, Shock Description, but No Forecast Risk Assessment; D. Monthly Bulletins: Adding Monetary Pillar Information; 7. ECB Bulletin, All Shocks; E. Summary Discussion: When Could the Public Get Confused?; 8. Monetary Pillar
  • 9. Confusing Communication: Robustness ChecksF. Comparison with Other Studies; V. Conclusions; References
Dimensions
unknown
Extent
1 online resource (36 p.)
Form of item
online
Isbn
9781462391103
Media category
computer
Media type code
c
Specific material designation
remote
System control number
  • (CKB)3170000000055146
  • (EBL)1608071
  • (SSID)ssj0001489052
  • (PQKBManifestationID)11801875
  • (PQKBTitleCode)TC0001489052
  • (PQKBWorkID)11452303
  • (PQKB)10435507
  • (OCoLC)460637380
  • (MiAaPQ)EBC1608071
  • (EXLCZ)993170000000055146
Label
Writing clearly : ECB's monetary policy communication, Ales Buliř, Martin Čihák, and Kateřina Smidková ; authorized for distribution by Enrica Detragiache and Luc Everaert
Publication
Copyright
Note
Description based upon print version of record
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
cr
Content category
text
Content type code
txt
Contents
  • Contents; I. Introduction; II. Motivation and Literature Overview; A. Communicating Clearly; B. Literature on Monetary Policy Communication; III. Methodology and Data; A. Methodology ("Central Bank Watching for Dummies"); Tables; 1. Slope Coefficient in a Regression of Actual and Forecasted Policy Rate Changes; Figures; 1. Correlation of Actual and Forecasted Policy Rate Changes; 2. GARCH Estimate of the Policy Rule for the ECB; 3. Parameterization Overview; B. Data; 2. Euro Area: Actual Inflation, Inflation Targets, and Inflation Expectations
  • 4. Inflation Factors and Their Serial Correlation5. Comparison with the KOF MPC Index; C. ECB Watching; 3. ECB Bulletins: Inflation Factors; 4. ECB: Central Bank Watching; IV. Results; A. Press Statements Only; B. Monthly Bulletins: Shock Descriptions; 5. Press Statements Only; C. Monthly Bulletins: Shock Descriptions and Forecast Risk Assessment; 6. ECB Bulletin, Shock Description, but No Forecast Risk Assessment; D. Monthly Bulletins: Adding Monetary Pillar Information; 7. ECB Bulletin, All Shocks; E. Summary Discussion: When Could the Public Get Confused?; 8. Monetary Pillar
  • 9. Confusing Communication: Robustness ChecksF. Comparison with Other Studies; V. Conclusions; References
Dimensions
unknown
Extent
1 online resource (36 p.)
Form of item
online
Isbn
9781462391103
Media category
computer
Media type code
c
Specific material designation
remote
System control number
  • (CKB)3170000000055146
  • (EBL)1608071
  • (SSID)ssj0001489052
  • (PQKBManifestationID)11801875
  • (PQKBTitleCode)TC0001489052
  • (PQKBWorkID)11452303
  • (PQKB)10435507
  • (OCoLC)460637380
  • (MiAaPQ)EBC1608071
  • (EXLCZ)993170000000055146

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