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Central bank communication during normal and crisis time

 

Notice

Type:   Rapport
 
Titre:   Central bank communication during normal and crisis time
 
Auteur(s):   Blot, Christophe (1974-...) - Observatoire français des conjonctures économiques (Auteur)
Hubert, Paul (1983-...) - Observatoire français des conjonctures économiques (Auteur)
 
Date de publication:   2018-09
 
Éditeur:   European Parliament
 
Pages:   22  p.
 
Mots-clés:   [en] ECB, Communication, Monetary policy
 
Résumé:   [fr] 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.
 
URL:   http://www.europarl.europa.eu/cmsdata/153222/OFCE_FINAL.pdf
 
 

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Version de l'éditeur 2018-central-bank-communication-during-normal-and-crisis-time-phubert.pdf 0,59 MB
 

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