Writing clearly : ECB's monetary policy communication /

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Bibliographic Details
Author / Creator:	Buliř, Aleš, author.
Imprint:	Washington, D.C. : International Monetary Fund, ©2008. ©2008
Description:	1 online resource (34 pages) : illustrations (some color).
Language:	English
Series:	IMF working paper ; WP/08/252 IMF working paper ; WP/08/252.
Subject:	European Central Bank -- Econometric models. European Central Bank. Banks and banking, Central -- Europe -- Econometric models. Communication -- Europe -- Econometric models. Monetary policy -- Europe -- Econometric models. Banks and banking, Central -- Econometric models. Econometric models. Monetary policy -- Econometric models. Europe. Electronic books.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12495059

Hidden Bibliographic Details
Other authors / contributors:	Čihák, Martin, author. Šmídková, Kateřina, author. IMF Institute. International Monetary Fund. European Department.
Notes:	Includes bibliographical references (pages 31-34). Print version record.
Summary:	The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB's written communication as clear about 95 percent of instances, which is comparable to, or even better than, other central banks for which a similar analysis is available. We also find that the additional information contained in the ECB's Monthly Bulletins helps to improve communication clarity compared to ECB's press releases. In particular, the Bulletins contain useful clarifying information on individual inflation factors and the overall forecast risk; in contrast, the bulletin's communication on monetary shocks has a negative, albeit small, impact on clarity.
Other form:	Print version: Buliř, Aleš. Writing clearly. Washington, D.C. : International Monetary Fund, ©2008

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