IDEAS home Printed from https://ideas.repec.org/r/fip/fedfwp/2019-02.html

Taking the Fed at its Word: A New Approach to Estimating Central Bank Objectives using Text Analysis

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as


Cited by:

  1. Haavio, Markus & Heikkinen, Joni & Jalasjoki, Pirkka & Kilponen, Juha & Paloviita, Maritta, 2025. "ECB's evolving communication and policy preferences since 2021 strategy review," Bank of Finland Research Discussion Papers 3/2025, Bank of Finland.
  2. Niţoi, Mihai & Pochea, Maria-Miruna & Radu, Ştefan-Constantin, 2023. "Unveiling the sentiment behind central bank narratives: A novel deep learning index," Journal of Behavioral and Experimental Finance, Elsevier, vol. 38(C).
  3. Yunshu Hu & Tianyi Zhang & Yuerong Zhuang, 2024. "Chinatowns: Indirect Casualties of the Pandemic," The American Economist, Sage Publications, vol. 69(1), pages 21-34, March.
  4. David M. Arseneau & Alejandro Drexler & Mitsuhiro Osada, 2022. "Central Bank Communication about Climate Change," Finance and Economics Discussion Series 2022-031, Board of Governors of the Federal Reserve System (U.S.).
  5. Urmat Dzhunkeev, 2025. "MOSES: Macroeconomic Forecasting with Models and Sentiment Synthesis," Russian Journal of Money and Finance, Bank of Russia, vol. 84(4), pages 63-84, December.
  6. Laurent Ferrara & Nicolas de Roux, 2025. "Capturing international influences in U.S. monetary policy through a NLP approach," Working Papers hal-05072535, HAL.
  7. Moreno-Pérez, Carlos & Minozzo, Marco, 2026. "Monetary policy uncertainty in Mexico: An unsupervised approach," International Economics, Elsevier, vol. 186(C).
  8. Bennani, Hamza & Romelli, Davide, 2024. "Exploring the informativeness and drivers of tone during committee meetings: The case of the Federal Reserve," Journal of International Money and Finance, Elsevier, vol. 148(C).
  9. Andrea Bassanini & Eve Caroli & Bruno Chaves Ferreira & Antoine Reberioux, 2025. "Don't Downsize This! Social Reactions to Mass Dismissals on Twitter," Industrial Relations: A Journal of Economy and Society, Wiley Blackwell, vol. 64(4), pages 580-597, October.
  10. Justyna Klejdysz & Robin L. Lumsdaine, 2023. "Shifts in ECB Communication: A Textual Analysis of the Press Conference," International Journal of Central Banking, International Journal of Central Banking, vol. 19(2), pages 473-542, June.
  11. Bianchi, Francesco & Melosi, Leonardo & Rottner, Matthias, 2021. "Hitting the elusive inflation target," Journal of Monetary Economics, Elsevier, vol. 124(C), pages 107-122.
  12. Friedrich Heinemann & Jan Kemper, 2026. "ECB Council Members’ Objectives and Public Debt at Home – Evidence from an AI-Based Textual Analysis," CESifo Working Paper Series 12493, CESifo.
  13. Stefano Fasani & Mirela Miescu & Lorenza Rossi, 2026. "Nonlinearities With Deanchored Inflation Expectations," International Economic Review, Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 67(3), pages 977-996, August.
  14. Kanelis, Dimitrios & Siklos, Pierre L., 2026. "Emotion in Euro area monetary policy communication and bond yields: the Draghi era," Journal of Economic Behavior & Organization, Elsevier, vol. 245(C).
  15. Kerstin Bernoth, 2025. "Dovish Coos or Hawkish Screech? From Central Bank Talk to Economic Walk," Discussion Papers of DIW Berlin 2137, DIW Berlin, German Institute for Economic Research.
  16. Corsello, Francesco & Neri, Stefano & Tagliabracci, Alex, 2021. "Anchored or de-anchored? That is the question," European Journal of Political Economy, Elsevier, vol. 69(C).
  17. Martina Cecioni & Adriana Grasso & Alessandro Notarpietro & Massimiliano Pisani, 2021. "Revisiting monetary policy objectives and strategies: international experience and challenges from the ELB," Questioni di Economia e Finanza (Occasional Papers) 660, Bank of Italy, Economic Research and International Relations Area.
  18. Rosalind L. Bennett & Manju Puri & Paul E. Soto, 2024. "Inside the Boardroom: Evidence from the Board Structure and Meeting Minutes of Community Banks," Finance and Economics Discussion Series 2024-085, Board of Governors of the Federal Reserve System (U.S.).
  19. Audrino, Francesco & Serwart, Jan, 2024. "Yield curve trading strategies exploiting sentiment data," The North American Journal of Economics and Finance, Elsevier, vol. 74(C).
  20. Firmin Ayivodji & Etienne Briand & Kevin Moran & Dalibor Stevanovic, 2026. "Monetary Policy in the Media Spotlight: Sentiments, Signals, and Economic Impact," Papers 2605.15092, arXiv.org.
  21. Chen, Chuanglian & Liu, Xiaobin & Yu, Jun & Zeng, Tao, 2025. "The time-varying zone-like and asymmetric preference of central banks: Evidence from China," China Economic Review, Elsevier, vol. 94(PA).
  22. Hilscher, Jens & Nabors, Kyle & Raviv, Alon, 2026. "Information in central bank sentiment: An analysis of Fed and ECB communication," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 110(C).
  23. Davtyan, Karen & Kalozdi, Adel R., 2026. "The power of words: Central bank green communication and performance of energy sectors," Energy Economics, Elsevier, vol. 160(C).
  24. Gu, Chen & Chen, Denghui & Stan, Raluca & Shen, Aizhong, 2022. "It is not just What you say, but How you say it: Why tonality matters in central bank communication," Journal of Empirical Finance, Elsevier, vol. 68(C), pages 216-231.
  25. Rudy Marhastari & Cicilia Anggadewi Harun & Retno Muhardini & Agatha Silalahi & Annes Nisrina Khoirunnisa & Rheznandya Arkaputra Azis & Sintia Aurida & Rahardian Luthfan Ihtifazhuddin & Citra Ayu Ross, 2025. "Echoes Of Policy: Leveraging Ai/Ml To Support Central Bank Communication Strategies," Working Papers WP/19/2025, Bank Indonesia.
  26. Daniel Aromí & Daniel Heymann, 2024. "Talk to Fed: a Big Dive into FOMC Transcripts," Working Papers 323, Red Nacional de Investigadores en Economía (RedNIE).
  27. Martina Dattilo & Fabio Padovano, 2025. "Evaluating the quality of UNESCO World Heritage List: a comparison with the Baedeker’s guidebooks," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 49(1), pages 23-47, March.
  28. Ryan Chahrour & Adam Hale Shapiro & Daniel Wilson, 2025. "News Selection and Household Inflation Expectations," NBER Working Papers 33837, National Bureau of Economic Research, Inc.
  29. Carotta, Gianni & Mello, Miguel & Ponce, Jorge, 2023. "Monetary policy communication and inflation expectations: New evidence about tone and readability," Latin American Journal of Central Banking (previously Monetaria), Elsevier, vol. 4(3).
  30. Babatunde Samson Omotosho, 2020. "Central Bank Communication In Ghana: Insights From A Text Mining Analysis," Noble International Journal of Economics and Financial Research, Noble Academic Publsiher, vol. 5(1), pages 01-13, January.
  31. Kanelis, Dimitrios & Kranzmann, Lars H. & Siklos, Pierre L., 2025. "The financial instability - Monetary policy nexus: Evidence from the FOMC minutes," Discussion Papers 13/2025, Deutsche Bundesbank.
  32. Karnaukh, Nina & Vokata, Petra, 2022. "Growth forecasts and news about monetary policy," Journal of Financial Economics, Elsevier, vol. 146(1), pages 55-70.
  33. Markus Haavio & Joni Heikkinen & Pirkka Jalasjoki & Juha Kilponen & Maritta Paloviita & Ilona Vänni, 2026. "Reading between the lines - uncovering asymmetry in the central bank loss function," IFC Bulletins chapters, in: Bank for International Settlements (ed.), Statistics and beyond: new data for decision making in central banks, volume 66, Bank for International Settlements.
  34. Bertsch, Christoph & Hull, Isaiah & Lumsdaine, Robin L. & Zhang, Xin, 2025. "Central bank mandates and monetary policy stances: Through the lens of Federal Reserve speeches," Journal of Econometrics, Elsevier, vol. 249(PC).
  35. François Gourio & Benjamin K. Johannsen & J. David López-Salido, 2025. "The Origins, Structure, and Results of the Federal Reserve’s 2019–20 Review of Its Monetary Policy Framework," Finance and Economics Discussion Series 2025-065, Board of Governors of the Federal Reserve System (U.S.).
  36. Sara Casella & Jesús Fernández-Villaverde & Stephen Hansen & Ryohei Oishi & Minchul Shin, 2026. "Structural Estimation with Unstructured Data," NBER Working Papers 35487, National Bureau of Economic Research, Inc.
  37. Caruso-Bloeck, Martin & Mello, Miguel & Ponce, Jorge, 2023. "News of disinflation and firms’ expectations: New causal evidence," Journal of International Money and Finance, Elsevier, vol. 137(C).
  38. Tsang, Kwok Ping & Yang, Zichao, 2025. "Agree to disagree: Measuring hidden dissent in FOMC meetings," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
  39. Bordo, Michael & Istrefi, Klodiana, 2023. "Perceived FOMC: The making of hawks, doves and swingers," Journal of Monetary Economics, Elsevier, vol. 136(C), pages 125-143.
  40. Giampaolo Bonomi & Ali Uppal, 2023. "Kites and Quails: Monetary Policy and Communication with Strategic Financial Markets," Papers 2305.08958, arXiv.org, revised May 2024.
  41. Adam Golinski & Sophie Guilloux-Nefussi & Jean-Paul Renne, 2025. "The Shadow Rate Model: Let’s Make it Real!," Working papers 1014, Banque de France.
  42. Tsang, Kwok Ping & Yang, Zichao, 2025. "Agree to disagree: Measuring hidden dissent in FOMC meetings," Journal of Economic Dynamics and Control, Elsevier, vol. 180(C).
  43. Pinar Deniz & Thanasis Stengos, 2025. "Who Is Leading in Communication Tone? Wavelet Analysis of the Fed and the ECB," JRFM, MDPI, vol. 18(4), pages 1-19, April.
  44. Bogner Alexandra & Jerger Jürgen, 2023. "Big data in monetary policy analysis—a critical assessment," Economics and Business Review, Paradigm, vol. 9(2), pages 27-40, April.
  45. Olivier de Bandt & Jean-Charles Bricongne & Julien Denes & Alexandre Dhenin & Annabelle De Gaye & Pierre-Antoine Robert, 2023. "Using the Press to Construct a New Indicator of Inflation Perceptions in France," Working papers 921, Banque de France.
  46. Bohl, Martin T. & Kanelis, Dimitrios & Siklos, Pierre L., 2023. "Central bank mandates: How differences can influence the content and tone of central bank communication," Journal of International Money and Finance, Elsevier, vol. 130(C).
  47. Istrefi, Klodiana & Odendahl, Florens & Sestieri, Giulia, 2023. "Fed communication on financial stability concerns and monetary policy decisions: Revelations from speeches," Journal of Banking & Finance, Elsevier, vol. 151(C).
  48. Marozzi, Armando, 2021. "The ECB's tracker: nowcasting the press conferences of the ECB," Working Paper Series 2609, European Central Bank.
  49. Kevin L. Kliesen, 2025. "Risk Management in Monetary Policymaking: The 1994-95 FOMC Tightening Episode," Review, Federal Reserve Bank of St. Louis, vol. 107(6), pages 1-16, April.
  50. Ilias Filippou & James Mitchell & My T. Nguyen, 2023. "The FOMC versus the Staff: Do Policymakers Add Value in Their Tales?," Working Papers 23-20, Federal Reserve Bank of Cleveland.
  51. Ruman, Asif M., 2023. "A Comparative Textual Study of FOMC Transcripts Through Inflation Peaks," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 87(C).
  52. Pan, Zhiyuan & Fu, Ziqian & Wang, Yudong & Dong, Qingma, 2024. "Exploiting the sentiments: A simple approach for improving cross hedging effectiveness," Energy Economics, Elsevier, vol. 134(C).
  53. Aromí J. Daniel & Heymann Daniel, 2024. "Synthetic surveys of monetary policymakers: perceptions, narratives and transparency," Asociación Argentina de Economía Política: Working Papers 4707, Asociación Argentina de Economía Política.
  54. Wang, Kenneth (Wei) & Zhong, Cassie (Xiaoqian), 2025. "The dark side of innovation policy uncertainty," Finance Research Letters, Elsevier, vol. 85(PC).
  55. Luca Barbaglia & Sergio Consoli & Sebastiano Manzan & Luca Tiozzo Pezzoli & Elisa Tosetti, 2025. "Sentiment analysis of economic text: A lexicon‐based approach," Economic Inquiry, Western Economic Association International, vol. 63(1), pages 125-143, January.
  56. Roy Trivedi, Smita & Ghosh, Saibal, 2025. "Do deeds match words? India’s monetary policy needs to “walk the talk” for inflation anchoring," Journal of Policy Modeling, Elsevier, vol. 47(3), pages 662-680.
  57. Alisa Polekhina & Anna Guseva, 2025. "How the Bank of Russia Is Perceived on Telegram Channels: Building an Index Using Machine Learning Methods," Russian Journal of Money and Finance, Bank of Russia, vol. 84(3), pages 28-62, September.
  58. Yushi YOSHIDA, 2025. "Understanding How Exchange Rates are Perceived and How That Perception Affects Exchange Rate Forecasts," Discussion papers 25079, Research Institute of Economy, Trade and Industry (RIETI).
  59. Hüpper, Florian & Kempa, Bernd, 2023. "Inflation targeting and inflation communication of the Federal Reserve: Words and deeds," Journal of Macroeconomics, Elsevier, vol. 75(C).
IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.