What Drives Clarity of Central Bank Communication About Inflation?
This paper examines whether the clarity of central bank communication about inflation varies with the economic environment. Using readability statistics and content analysis, we study the clarity of communication on the inflation outlook by seven central banks across three continents during the rece...
Gespeichert in:
| Veröffentlicht in: | Open economies review 2013-02, Vol.24 (1), p.125-145 |
|---|---|
| Hauptverfasser: | , , |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | 145 |
|---|---|
| container_issue | 1 |
| container_start_page | 125 |
| container_title | Open economies review |
| container_volume | 24 |
| creator | Bulíř, Aleš Čihák, Martin Jansen, David-Jan |
| description | This paper examines whether the clarity of central bank communication about inflation varies with the economic environment. Using readability statistics and content analysis, we study the clarity of communication on the inflation outlook by seven central banks across three continents during the recent decade. We uncover significant and persistent differences in clarity over time and across countries. However, identifying determinants of clarity that are robustly relevant across our sample of central banks proves elusive. Overall, our findings suggest that a single model for clarity of central bank communication is not appropriate. Rather, when studying clarity of communication, country-specific and institution-specific factors are highly relevant. |
| doi_str_mv | 10.1007/s11079-012-9259-z |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_cross</sourceid><recordid>TN_cdi_proquest_miscellaneous_1285627647</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><sourcerecordid>3184729681</sourcerecordid><originalsourceid>FETCH-LOGICAL-c382t-2267fe60b57ac2e0ce8933432a4e61ed2fcca0a8421cb766b55a9d7093867a7e3</originalsourceid><addsrcrecordid>eNp1kE1LxDAQhoMouK7-AG8BL16qk6TNx0l269fCghdFbyHNptq1TdekFXZ_vV3XgwieZgae92V4EDolcEEAxGUkBIRKgNBE0Uwlmz00IplgiQD5so9GoOiwK0UP0VGMSwBgQsgRmj6_mQ5fh-rTRZzXJlTdGrclzp3vgqnx1Ph3nLdN0_vKmq5qPZ4Ubd_hmS_r7_vqGB2Upo7u5GeO0dPtzWN-n8wf7mb5ZJ5YJmmXUMpF6TgUmTCWOrBOKsZSRk3qOHELWlprwMiUElsIzossM2ohQDHJhRGOjdH5rncV2o_exU43VbSuro13bR81oTLjVPBUDOjZH3TZ9sEP32mSCgmKC7qlyI6yoY0xuFKvQtWYsNYE9Naq3lnVg1W9tao3Q4buMnFg_asLv5r_DX0BZQd5Vg</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>1478096727</pqid></control><display><type>article</type><title>What Drives Clarity of Central Bank Communication About Inflation?</title><source>Springer Nature - Complete Springer Journals</source><creator>Bulíř, Aleš ; Čihák, Martin ; Jansen, David-Jan</creator><creatorcontrib>Bulíř, Aleš ; Čihák, Martin ; Jansen, David-Jan</creatorcontrib><description>This paper examines whether the clarity of central bank communication about inflation varies with the economic environment. Using readability statistics and content analysis, we study the clarity of communication on the inflation outlook by seven central banks across three continents during the recent decade. We uncover significant and persistent differences in clarity over time and across countries. However, identifying determinants of clarity that are robustly relevant across our sample of central banks proves elusive. Overall, our findings suggest that a single model for clarity of central bank communication is not appropriate. Rather, when studying clarity of communication, country-specific and institution-specific factors are highly relevant.</description><identifier>ISSN: 0923-7992</identifier><identifier>EISSN: 1573-708X</identifier><identifier>DOI: 10.1007/s11079-012-9259-z</identifier><language>eng</language><publisher>Boston: Springer US</publisher><subject>Annual reports ; Central banks ; Communication ; Content analysis ; Decision making ; Development Economics ; Economic Policy ; Economic research ; Economic statistics ; Economics ; Economics and Finance ; European Integration ; Federal Reserve monetary policy ; Inflation ; Interest rates ; International Economics ; International finance ; Macroeconomics/Monetary Economics//Financial Economics ; Monetary policy ; Readability ; Research Article ; Securities markets ; Transparency ; Trends</subject><ispartof>Open economies review, 2013-02, Vol.24 (1), p.125-145</ispartof><rights>Springer Science+Business Media New York (outside the USA) 2012</rights><rights>Springer Science+Business Media New York 2013</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c382t-2267fe60b57ac2e0ce8933432a4e61ed2fcca0a8421cb766b55a9d7093867a7e3</citedby><cites>FETCH-LOGICAL-c382t-2267fe60b57ac2e0ce8933432a4e61ed2fcca0a8421cb766b55a9d7093867a7e3</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://link.springer.com/content/pdf/10.1007/s11079-012-9259-z$$EPDF$$P50$$Gspringer$$H</linktopdf><linktohtml>$$Uhttps://link.springer.com/10.1007/s11079-012-9259-z$$EHTML$$P50$$Gspringer$$H</linktohtml><link.rule.ids>314,776,780,27901,27902,41464,42533,51294</link.rule.ids></links><search><creatorcontrib>Bulíř, Aleš</creatorcontrib><creatorcontrib>Čihák, Martin</creatorcontrib><creatorcontrib>Jansen, David-Jan</creatorcontrib><title>What Drives Clarity of Central Bank Communication About Inflation?</title><title>Open economies review</title><addtitle>Open Econ Rev</addtitle><description>This paper examines whether the clarity of central bank communication about inflation varies with the economic environment. Using readability statistics and content analysis, we study the clarity of communication on the inflation outlook by seven central banks across three continents during the recent decade. We uncover significant and persistent differences in clarity over time and across countries. However, identifying determinants of clarity that are robustly relevant across our sample of central banks proves elusive. Overall, our findings suggest that a single model for clarity of central bank communication is not appropriate. Rather, when studying clarity of communication, country-specific and institution-specific factors are highly relevant.</description><subject>Annual reports</subject><subject>Central banks</subject><subject>Communication</subject><subject>Content analysis</subject><subject>Decision making</subject><subject>Development Economics</subject><subject>Economic Policy</subject><subject>Economic research</subject><subject>Economic statistics</subject><subject>Economics</subject><subject>Economics and Finance</subject><subject>European Integration</subject><subject>Federal Reserve monetary policy</subject><subject>Inflation</subject><subject>Interest rates</subject><subject>International Economics</subject><subject>International finance</subject><subject>Macroeconomics/Monetary Economics//Financial Economics</subject><subject>Monetary policy</subject><subject>Readability</subject><subject>Research Article</subject><subject>Securities markets</subject><subject>Transparency</subject><subject>Trends</subject><issn>0923-7992</issn><issn>1573-708X</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2013</creationdate><recordtype>article</recordtype><sourceid>BENPR</sourceid><recordid>eNp1kE1LxDAQhoMouK7-AG8BL16qk6TNx0l269fCghdFbyHNptq1TdekFXZ_vV3XgwieZgae92V4EDolcEEAxGUkBIRKgNBE0Uwlmz00IplgiQD5so9GoOiwK0UP0VGMSwBgQsgRmj6_mQ5fh-rTRZzXJlTdGrclzp3vgqnx1Ph3nLdN0_vKmq5qPZ4Ubd_hmS_r7_vqGB2Upo7u5GeO0dPtzWN-n8wf7mb5ZJ5YJmmXUMpF6TgUmTCWOrBOKsZSRk3qOHELWlprwMiUElsIzossM2ohQDHJhRGOjdH5rncV2o_exU43VbSuro13bR81oTLjVPBUDOjZH3TZ9sEP32mSCgmKC7qlyI6yoY0xuFKvQtWYsNYE9Naq3lnVg1W9tao3Q4buMnFg_asLv5r_DX0BZQd5Vg</recordid><startdate>20130201</startdate><enddate>20130201</enddate><creator>Bulíř, Aleš</creator><creator>Čihák, Martin</creator><creator>Jansen, David-Jan</creator><general>Springer US</general><general>Springer Nature B.V</general><scope>AAYXX</scope><scope>CITATION</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>885</scope><scope>8AO</scope><scope>8BJ</scope><scope>8FK</scope><scope>8FL</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>ANIOZ</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FQK</scope><scope>FRAZJ</scope><scope>FRNLG</scope><scope>F~G</scope><scope>JBE</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>M1F</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope></search><sort><creationdate>20130201</creationdate><title>What Drives Clarity of Central Bank Communication About Inflation?</title><author>Bulíř, Aleš ; Čihák, Martin ; Jansen, David-Jan</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c382t-2267fe60b57ac2e0ce8933432a4e61ed2fcca0a8421cb766b55a9d7093867a7e3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2013</creationdate><topic>Annual reports</topic><topic>Central banks</topic><topic>Communication</topic><topic>Content analysis</topic><topic>Decision making</topic><topic>Development Economics</topic><topic>Economic Policy</topic><topic>Economic research</topic><topic>Economic statistics</topic><topic>Economics</topic><topic>Economics and Finance</topic><topic>European Integration</topic><topic>Federal Reserve monetary policy</topic><topic>Inflation</topic><topic>Interest rates</topic><topic>International Economics</topic><topic>International finance</topic><topic>Macroeconomics/Monetary Economics//Financial Economics</topic><topic>Monetary policy</topic><topic>Readability</topic><topic>Research Article</topic><topic>Securities markets</topic><topic>Transparency</topic><topic>Trends</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Bulíř, Aleš</creatorcontrib><creatorcontrib>Čihák, Martin</creatorcontrib><creatorcontrib>Jansen, David-Jan</creatorcontrib><collection>CrossRef</collection><collection>ProQuest Central (Corporate)</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>Banking Information Database (Alumni Edition)</collection><collection>ProQuest Pharma Collection</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>Accounting, Tax & Banking Collection</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>International Bibliography of the Social Sciences</collection><collection>Accounting, Tax & Banking Collection (Alumni)</collection><collection>Business Premium Collection (Alumni)</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>International Bibliography of the Social Sciences</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Global</collection><collection>Banking Information Database</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central Basic</collection><jtitle>Open economies review</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Bulíř, Aleš</au><au>Čihák, Martin</au><au>Jansen, David-Jan</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>What Drives Clarity of Central Bank Communication About Inflation?</atitle><jtitle>Open economies review</jtitle><stitle>Open Econ Rev</stitle><date>2013-02-01</date><risdate>2013</risdate><volume>24</volume><issue>1</issue><spage>125</spage><epage>145</epage><pages>125-145</pages><issn>0923-7992</issn><eissn>1573-708X</eissn><abstract>This paper examines whether the clarity of central bank communication about inflation varies with the economic environment. Using readability statistics and content analysis, we study the clarity of communication on the inflation outlook by seven central banks across three continents during the recent decade. We uncover significant and persistent differences in clarity over time and across countries. However, identifying determinants of clarity that are robustly relevant across our sample of central banks proves elusive. Overall, our findings suggest that a single model for clarity of central bank communication is not appropriate. Rather, when studying clarity of communication, country-specific and institution-specific factors are highly relevant.</abstract><cop>Boston</cop><pub>Springer US</pub><doi>10.1007/s11079-012-9259-z</doi><tpages>21</tpages></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0923-7992 |
| ispartof | Open economies review, 2013-02, Vol.24 (1), p.125-145 |
| issn | 0923-7992 1573-708X |
| language | eng |
| recordid | cdi_proquest_miscellaneous_1285627647 |
| source | Springer Nature - Complete Springer Journals |
| subjects | Annual reports Central banks Communication Content analysis Decision making Development Economics Economic Policy Economic research Economic statistics Economics Economics and Finance European Integration Federal Reserve monetary policy Inflation Interest rates International Economics International finance Macroeconomics/Monetary Economics//Financial Economics Monetary policy Readability Research Article Securities markets Transparency Trends |
| title | What Drives Clarity of Central Bank Communication About Inflation? |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-02-09T23%3A19%3A07IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_cross&rft_val_fmt=info:ofi/fmt:kev:mtx:journal&rft.genre=article&rft.atitle=What%20Drives%20Clarity%20of%20Central%20Bank%20Communication%20About%20Inflation?&rft.jtitle=Open%20economies%20review&rft.au=Bul%C3%AD%C5%99,%20Ale%C5%A1&rft.date=2013-02-01&rft.volume=24&rft.issue=1&rft.spage=125&rft.epage=145&rft.pages=125-145&rft.issn=0923-7992&rft.eissn=1573-708X&rft_id=info:doi/10.1007/s11079-012-9259-z&rft_dat=%3Cproquest_cross%3E3184729681%3C/proquest_cross%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=1478096727&rft_id=info:pmid/&rfr_iscdi=true |