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ifo Institut – Leibniz-Institut für Wirtschaftsforschung an der Universität München >
CESifo Working Papers, CESifo Group Munich >
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http://hdl.handle.net/10419/18901
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| Title: | | Look who's talking : ECB communication during the first years of EMU  |
| Authors: | | Jansen, David-Jan de Haan, Jakob |
| Issue Date: | | 2004 |
| Series/Report no.: | | CESifo working papers 1263 |
| 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. |
| Subjects: | | central bank communication European Central Bank Bundesbank |
| JEL: | | E58 E52 |
| Document Type: | | Working Paper |
| Appears in Collections: | | CESifo Working Papers, CESifo Group Munich
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