Book icon

Book : Scholarly edition

Shocking language: Understanding the macroeconomic effects of central bank communication

Abstract:

We explore how the multi-dimensional aspects of information released by the FOMC have effects on both market and real economic variables. Using tools from computational linguistics, we measure the information released by the FOMC on the state of economic conditions, as well as the guidance the FOMC provides about future monetary policy decisions. Employing these measures within a FAVAR framework, we find that shocks to forward guidance are more important than the FOMC communication of current...

Expand abstract
Publication status:
Published
Peer review status:
Peer reviewed

Actions


Access Document


Files:
Publisher copy:
10.1016/j.jinteco.2015.12.008

Authors


More by this author
Institution:
University of Oxford
Division:
SSD
Department:
Economics
Oxford college:
St Hugh's College
Role:
Author
Publisher:
Elsevier Publisher's website
Journal:
Journal of International Economics
Host title:
Journal of International Economics
Publication date:
2015-12-31
Acceptance date:
2015-12-22
DOI:
ISSN:
0022-1996
Source identifiers:
926992
Keywords:
Subtype:
Scholarly edition
Pubs id:
pubs:926992
UUID:
uuid:b688248a-c411-48d0-8644-d1cb50b4b340
Local pid:
pubs:926992
Deposit date:
2018-11-19

Terms of use


Views and Downloads






If you are the owner of this record, you can report an update to it here: Report update to this record

TO TOP