Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/261189 
Year of Publication: 
2022
Series/Report no.: 
ECB Working Paper No. 2655
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
We investigate whether ideology drives the sentiments of parliamentarians when they speak to the central bank they hold accountable. To this end, we collect textual data on the quarterly hearings of the ECB President before the European Parliament from 1999 to 2019. We apply sentiment analysis to more than 1,900 speeches of individual Members of the European Parliament (MEPs) from 128 parties. We find robust evidence that MEPs' sentiments toward the ECB are correlated with the ideological stance predominantly on a pro-/anti-European dimension rather than on a left-right dimension.
Subjects: 
Central Bank Accountability
Party Ideology
Sentiment Analysis
Central Bank Independence
JEL: 
E02
E52
E58
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-4988-0
Document Type: 
Working Paper

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