Is ECB communication effective?

Carlo Rosa and Giovanni Verga

LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library

Abstract: In its Monthly Bulletin of November 2002, the European Central Bank (ECB) stated that the monthly press conference held by its President represents one of its most important communication channels and that it provides a comprehensive summary of the policy relevant assessment of economic developments. After providing a glossary to translate the qualitative information of the press conferences into an ordered scale, we verify empirically whether and to what extent market expectations react to the information released by the ECB. We found that the public not only understand but also believe the signals sent by the European monetary authority.

Keywords: communication; credibility; ECB; glossary; Repo; Euribor; news approach (search for similar items in EconPapers)
JEL-codes: E50 E52 E58 (search for similar items in EconPapers)
Pages: 27 pages
Date: 2005-04
References: Add references at CitEc
Citations: View citations in EconPapers (24)

Downloads: (external link)
http://eprints.lse.ac.uk/19899/ Open access version. (application/pdf)

Related works:
Working Paper: Is ECB Communication Effective? (2005)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ehl:lserod:19899

Access Statistics for this paper

More papers in LSE Research Online Documents on Economics from London School of Economics and Political Science, LSE Library LSE Library Portugal Street London, WC2A 2HD, U.K.. Contact information at EDIRC.
Bibliographic data for series maintained by LSERO Manager ().