Central bank communication during normal and crisis time

Christophe Blot () and Paul Hubert
Additional contact information
Christophe Blot: OFCE - Observatoire français des conjonctures économiques (Sciences Po) - Sciences Po - Sciences Po

Working Papers from HAL

Abstract: Central banks have intensified their communication strategy since the mid 1990's and it has become an important instrument of central banks' policymaking toolkit. A large empirical evidence suggests that central bank communication has effectively enhanced the transmission of monetary policy before and during the financial crisis. Nevertheless, the use of communication as a policy instrument is fragile since it depends on economic agents' perceptions and beliefs. It is crucial that central bank communication be consistent with policy decisions.

Keywords: ECB; Communication; Monetary policy (search for similar items in EconPapers)
Date: 2018-09
Note: View the original document on HAL open archive server: https://sciencespo.hal.science/hal-03404315
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in [Research Report] European Parliament. 2018, pp.22

Downloads: (external link)
https://sciencespo.hal.science/hal-03404315/document (application/pdf)

Related works:
Working Paper: Central bank communication during normal and crisis time (2018)
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:hal:wpaper:hal-03404315

Access Statistics for this paper

More papers in Working Papers from HAL
Bibliographic data for series maintained by CCSD ().