Look Who’s Talking: ECB Communication during the First Years of EMU

David-Jan Jansen, Jakob de Haan and Jakob de Haan
Authors registered in the RePEc Author Service: Jakob de Haan

No 1263, CESifo Working Paper Series from CESifo

Abstract: This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that statements on the interest rate, inflation and economic growth have indeed been contradictory. Furthermore, national central banks continue to dominate communication on monetary policy. Finally, only the ECB Executive Board has observed radio silence before ECB Governing Council meetings. A positive conclusion is that, over time, interest rate statements have become less contradictory.

Keywords: central bank communication; European Central Bank; Bundesbank (search for similar items in EconPapers)
Date: 2004
New Economics Papers: this item is included in nep-cba, nep-eec and nep-his
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

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Journal Article: Look who's talking: ECB communication during the first years of EMU (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:ces:ceswps:_1263

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