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Comment on: Enhancing central bank communications using simple and relatable information

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  • Istrefi, Klodiana

Abstract

•A tradeoff between simplicity and the need to convey the central bank's message.•Central bank communication should be simple but not simpler.•A within-subject experiment would have been telling whether communication worked.

Suggested Citation

  • Istrefi, Klodiana, 2019. "Comment on: Enhancing central bank communications using simple and relatable information," Journal of Monetary Economics, Elsevier, vol. 108(C), pages 16-20.
    • Handle: RePEc:eee:moneco:v:108:y:2019:i:c:p:16-20
    DOI: 10.1016/j.jmoneco.2019.09.001
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    References listed on IDEAS

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    1. Olivier Coibion & Yuriy Gorodnichenko & Saten Kumar, 2018. "How Do Firms Form Their Expectations? New Survey Evidence," American Economic Review, American Economic Association, vol. 108(9), pages 2671-2713, September.
    2. Kryvtsov, Oleksiy & Petersen, Luba, 2021. "Central bank communication that works: Lessons from lab experiments," Journal of Monetary Economics, Elsevier, vol. 117(C), pages 760-780.
    3. Saten Kumar & Hassan Afrouzi & Olivier Coibion & Yuriy Gorodnichenko, 2015. "Inflation Targeting Does Not Anchor Inflation Expectations: Evidence from Firms in New Zealand," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 46(2 (Fall)), pages 151-225.
    4. Carola Binder & Alex Rodrigue, 2018. "Household Informedness and Long‐Run Inflation Expectations: Experimental Evidence," Southern Economic Journal, John Wiley & Sons, vol. 85(2), pages 580-598, October.
    5. repec:spo:wpmain:info:hdl:2441/h44c7ona088fb5o9b5dq3nt9u is not listed on IDEAS
    6. Olivier Armantier & Wändi Bruine de Bruin & Giorgio Topa & Wilbert Klaauw & Basit Zafar, 2015. "Inflation Expectations And Behavior: Do Survey Respondents Act On Their Beliefs?," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 56, pages 505-536, May.
    7. Andrew Haldane & Michael McMahon, 2018. "Central Bank Communications and the General Public," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 578-583, May.
    8. Fabrice Murtin & Lara Fleischer & Vincent Siegerink & Arnstein Aassve & Yann Algan & Romina Boarini & Santiago González & Zsuzsanna Lonti & Gianluca Grimalda & Rafael Hortala Vallve & Soonhee Kim & Da, 2018. "Trust and its determinants: Evidence from the Trustlab experiment," OECD Statistics Working Papers 2018/2, OECD Publishing.
    9. Blinder, Alan S & Morgan, John, 2005. "Are Two Heads Better than One? Monetary Policy by Committee," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 37(5), pages 789-811, October.
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    11. Alan S. Blinder, 2018. "Through a Crystal Ball Darkly: The Future of Monetary Policy Communication," AEA Papers and Proceedings, American Economic Association, vol. 108, pages 567-571, May.
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    Cited by:

    1. Ferrara, Federico Maria & Angino, Siria, 2022. "Does clarity make central banks more engaging? Lessons from ECB communications," European Journal of Political Economy, Elsevier, vol. 74(C).
    2. Fraccaroli, Nicolò & Giovannini, Alessandro & Jamet, Jean-Francois & Persson, Eric, 2022. "Does the European Central Bank speak differently when in parliament?," Working Paper Series 2705, European Central Bank.

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