Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/299050 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Central Banking Theory and Practice [ISSN:] 2336-9205 [Volume:] 11 [Issue:] 3 [Year:] 2022 [Pages:] 33-57
Publisher: 
Sciendo, Warsaw
Abstract: 
Communication has become a vital part of modern monetary policy, and its importance is even higher during a crisis when a central bank has to calm the markets down. This paper studies the information content of different styles of communication from individual central bank policymakers in the European Central Bank and the Federal Reserve during a period of very high economic uncertainty, and whether it differs depending on the role or position of the speaker. The findings suggest that during the financial crisis there was a large variance in the information content of different policymakers and styles of communication.
Subjects: 
Communication
Monetary Policy
Central banking
Central Banks and Their Policies
JEL: 
D83
E50
E52
E58
E59
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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