What Do Central Bankers Talk About? Evidence From the BIS Archive

Martin Feldkircher, Petr Korab () and Viktoriya Teliha

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: This paper analyzes the evolution of central bank topics using a corpus of over 20,000 speeches spanning nearly three decades and a range of topic models. We identify thirteen themes, including monetary policy, financial stability, digital payments, and climate-related finance. Examining their development over time, we classify these themes as "evergreens", "waning threads", or emergent "rising stars", and show that early adoption and topic leadership are nearly equally shared between emerging and advanced economies' central banks. In the aftermath of the Global Financial Crisis, topic focus converged worldwide, with a renewed emphasis on financial stability. Finally, static covariate regressions link topic prevalence to inflation regimes, central bank independence, and speech format, highlighting the impact of macroeconomic and institutional factors on communication priorities.

Keywords: monetary policy; financial stability; digital payments; climate-related finance (search for similar items in EconPapers)
JEL-codes: C55 C88 D83 E52 E58 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2025-06
New Economics Papers: this item is included in nep-his, nep-mac and nep-mon
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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2025-35

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