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Sentiment of the FOMC: Unscripted

Author

Listed:
  • Sandra A. Cannon

Abstract

San Cannon applies text-mining techniques to FOMC transcripts to identify patterns in Committee discourse over time as well as changes in the relationship between participants? tone and economic activity.

Suggested Citation

  • Sandra A. Cannon, 2015. "Sentiment of the FOMC: Unscripted," Economic Review, Federal Reserve Bank of Kansas City, pages 5-31.
  • Handle: RePEc:fip:fedker:00032
    as

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    File URL: https://www.kansascityfed.org/~/media/files/publicat/econrev/econrevarchive/2015/4q15cannon.pdf
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    References listed on IDEAS

    as
    1. repec:oup:qjecon:v:133:y:2018:i:2:p:801-870. is not listed on IDEAS
    2. Miguel Acosta, 2015. "FOMC Responses to Calls for Transparency," Finance and Economics Discussion Series 2015-60, Board of Governors of the Federal Reserve System (US), revised 10 Jul 2015.
    3. EllenE. Meade & David Stasavage, 2008. "Publicity of Debate and the Incentive to Dissent: Evidence from the US Federal Reserve," Economic Journal, Royal Economic Society, vol. 118(528), pages 695-717, April.
    4. Ellen E. Meade, 2010. "Federal Reserve Transcript Publication And Regional Representation," Contemporary Economic Policy, Western Economic Association International, vol. 28(2), pages 162-170, April.
    5. Stephen Hansen & Michael McMahon & Andrea Prat, 2018. "Transparency and Deliberation Within the FOMC: A Computational Linguistics Approach," The Quarterly Journal of Economics, Oxford University Press, vol. 133(2), pages 801-870.
    6. Eijffinger, Sylvester C W & Mahieu, Ronald J & Raes, Louis, 2015. "Hawks and Doves at the FOMC," CEPR Discussion Papers 10442, C.E.P.R. Discussion Papers.
    7. Christina D. Romer & David H. Romer, 2008. "The FOMC versus the Staff: Where Can Monetary Policymakers Add Value?," American Economic Review, American Economic Association, vol. 98(2), pages 230-235, May.
    8. Tim Loughran & Bill Mcdonald, 2011. "When Is a Liability Not a Liability? Textual Analysis, Dictionaries, and 10‐Ks," Journal of Finance, American Finance Association, vol. 66(1), pages 35-65, February.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. Ulrich Fritsche & Johannes Puckelwald, 2018. "Deciphering Professional Forecasters’ Stories - Analyzing a Corpus of Textual Predictions for the German Economy," Macroeconomics and Finance Series 201804, University of Hamburg, Department of Socioeconomics.
    2. repec:eee:jimfin:v:79:y:2017:i:c:p:136-156 is not listed on IDEAS

    More about this item

    Keywords

    FOMC Transcripts; Federal Open Market Committee; Text Mining;

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy

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