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'Liked', 'Shared', 'Commented': Central Bank Communication on Facebook and Twitter

Yuriy Gorodnichenko, Tho Pham and Oleksandr Talavera

Discussion Papers from Department of Economics, University of Birmingham

Abstract: This study is a comprehensive analysis of the Federal Reserve System (Fed) communication on social media and its effectiveness. Our examination shows that although the Fed uses both Twitter and Facebook for public outreach, communication via Twitter is more popular and gains greater public engagement. There are heterogeneous effects across different topics of the Fed’s social media posts, post types, as well as across Twitter user groups. The results suggest that while the public are generally active in engaging with the Fed on social media, economists and media are more active than other groups of users.

Keywords: central bank communication; social media; public engagement; financial market. (search for similar items in EconPapers)
JEL-codes: E50 E58 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2021-04
New Economics Papers: this item is included in nep-cba, nep-mac, nep-mon and nep-pay
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