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Does The Clarity Of Central Bank Communication Affect Volatility In Financial Markets? Evidence From Humphrey‐Hawkins Testimonies

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  • DAVID‐JAN JANSEN

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  • David‐Jan Jansen, 2011. "Does The Clarity Of Central Bank Communication Affect Volatility In Financial Markets? Evidence From Humphrey‐Hawkins Testimonies," Contemporary Economic Policy, Western Economic Association International, vol. 29(4), pages 494-509, October.
  • Handle: RePEc:bla:coecpo:v:29:y:2011:i:4:p:494-509
    DOI: j.1465-7287.2010.00238.x
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    Citations

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    Cited by:

    1. Nicholas Apergis & Ioannis Pragidis, 2019. "Stock Price Reactions to Wire News from the European Central Bank: Evidence from Changes in the Sentiment Tone and International Market Indexes," International Advances in Economic Research, Springer;International Atlantic Economic Society, vol. 25(1), pages 91-112, February.
    2. Gabriel Caldas Montes & Rodolfo Tomás da Fonseca Nicolay, 2015. "Central bank’s perception on inflation and inflation expectations of experts: Empirical evidence from Brazil," Journal of Economic Studies, Emerald Group Publishing, vol. 42(6), pages 1142-1158, November.
    3. Thiago Cacicedo Cidad & Gabriel Caldas Montes, 2016. "Does Central Bank’S Perception Regarding The State Of The Economy Affect Entrepreneurs’ Expectations? Are Entrepreneurs’ Expectations Important For Investment? Empirical Evidence From Brazil," Anais do XLIII Encontro Nacional de Economia [Proceedings of the 43rd Brazilian Economics Meeting] 035, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    4. G. C. Montes & R. T. F. Nicolay, 2017. "Does clarity of central bank communication affect credibility? Evidences considering governor-specific effects," Applied Economics, Taylor & Francis Journals, vol. 49(32), pages 3163-3180, July.
    5. Juan Camilo Galvis Ciro & Juan Camilo Anzoategui-Zapata, 2019. "Efectos de los anuncios de política monetaria y la credibilidad sobre las expectativas de inflación: evidencia para Colombia," Revista Apuntes del Cenes, Universidad Pedagógica y Tecnológica de Colombia, vol. 38(67), pages 73-94, February.
    6. Ehrmann, Michael & Talmi, Jonathan, 2020. "Starting from a blank page? Semantic similarity in central bank communication and market volatility," Journal of Monetary Economics, Elsevier, vol. 111(C), pages 48-62.
    7. Aleš Bulír & Martin Cíhak & David-Jan Jansen, 2014. "Does the clarity of inflation reports affect volatility in financial markets?," DNB Working Papers 439, Netherlands Central Bank, Research Department.
    8. Aleš Bulíř & Jaromír Hurník & Kateřina Šmídková, 2016. "What Do Central Banks Know about Inflation Factors?," Open Economies Review, Springer, vol. 27(4), pages 795-810, September.
    9. Rodolfo Tomás Da Fonseca Nicolay & Gabriel Caldas Montes, 2014. "Comunicação Do Banco Central,Expectativas De Inflação E Profecia Auto-Realizável: Evidências Para Obrasil," Anais do XL Encontro Nacional de Economia [Proceedings of the 40th Brazilian Economics Meeting] 046, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    10. Ales Bulir & Jaromir Hurnik & Katerina Smidkova, 2013. "Inflation Reports and Models: How Well Do Central Banks Really Write?," Working Papers 2013/03, Czech National Bank.
    11. G. C. Montes & L. V. Oliveira & A. Curi & R. T. F. Nicolay, 2016. "Effects of transparency, monetary policy signalling and clarity of central bank communication on disagreement about inflation expectations," Applied Economics, Taylor & Francis Journals, vol. 48(7), pages 590-607, February.
    12. Smales, L.A. & Apergis, N., 2017. "Understanding the impact of monetary policy announcements: The importance of language and surprises," Journal of Banking & Finance, Elsevier, vol. 80(C), pages 33-50.
    13. Coenen, Günter & Ehrmann, Michael & Gaballo, Gaetano & Hoffmann, Peter & Nakov, Anton & Nardelli, Stefano & Persson, Eric & Strasser, Georg H., 2017. "Communication of monetary policy in unconventional times," CFS Working Paper Series 578, Center for Financial Studies (CFS).
    14. Smales, L.A. & Apergis, N., 2017. "Does more complex language in FOMC decisions impact financial markets?," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 51(C), pages 171-189.
    15. Bernd Hayo & Kai Henseler & Marc Steffen Rapp, 2019. "Complexity of ECB Communication and Financial Market Trading," MAGKS Papers on Economics 201919, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
    16. Juan Camilo Galvis Ciro & Juan Camilo Anzoátegui Zapata, 2019. "Disagreement in inflation expectations: empirical evidence for Colombia," Applied Economics, Taylor & Francis Journals, vol. 51(40), pages 4411-4424, August.
    17. Pongsak Luangaram & Warapong Wongwachara, 2017. "More Than Words: A Textual Analysis of Monetary Policy Communication," PIER Discussion Papers 54, Puey Ungphakorn Institute for Economic Research, revised Feb 2017.
    18. Montes, Gabriel Caldas & Nicolay, Rodolfo Tomás da Fonseca & Acar, Tatiana, 2019. "Do fiscal communication and clarity of fiscal announcements affect public debt uncertainty? Evidence from Brazil," Journal of Economics and Business, Elsevier, vol. 103(C), pages 38-60.
    19. Kawamura, Kohei & Kobashi, Yohei & Shizume, Masato & Ueda, Kozo, 2019. "Strategic central bank communication: Discourse analysis of the Bank of Japan’s Monthly Report," Journal of Economic Dynamics and Control, Elsevier, vol. 100(C), pages 230-250.
    20. Ales Bulir & Martin Cihak & David-Jan Jansen, 2018. "Does the Clarity of Monetary Policy Reports Reduce Volatility in Financial Markets?," Czech Journal of Economics and Finance (Finance a uver), Charles University Prague, Faculty of Social Sciences, vol. 68(1), pages 2-17, February.
    21. Helder Ferreira De Mendonça & Rodolfo Tomás Da Fonseca Nicolay, 2018. "Effect Of The Communication And Clarity Of The Fiscal Authority On Market Expectations: Evidence From The Brazilian Economy," Anais do XLIV Encontro Nacional de Economia [Proceedings of the 44th Brazilian Economics Meeting] 65, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    22. de Mendonça, Helder Ferreira & Nicolay, Rodolfo Tomás da Fonseca, 2017. "Is communication clarity from fiscal authority useful? Evidence from an emerging economy," Journal of Policy Modeling, Elsevier, vol. 39(1), pages 35-51.

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