Behavioral Perspectives on Central Bank Communication for Financial Stability

Anton Comanescu
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Anton Comanescu : City University of Seattle

Journal of Money and Economy, 2012, vol. 6, issue 3, 41-79

Abstract: Analyzing central bank communication during financial crises, we draw on a surprisingly informative parallel between management of natural disasters such as earthquakes on one hand, and the corresponding communication infrastructure and social interaction during financial turmoil, on the other. The role of social and emotional behavior thereof points to the importance of interpersonal communication for the dissemination of central bank information in a turbulent context. Overall, our research results inform central banks' attempts to coordinate the desideration of monetary policy, prudential supervision and financial stability in a framework that takes into account social and psychological challenges in the financial markets and the society.

Keywords: central bank policies; financial crises; disaster management; social interaction (search for similar items in EconPapers)
JEL-codes: D03 D83 E58 G01 (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:mbr:jmonec:v:6:y:2012:i:3:p:41-79

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