Clarity of Central Bank Communication About Inflation
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
This paper examines whether the clarity of central bank communication about inflation has changed with the economic environment. We use readability statistics and content analysis to study the clarity of communication on the inflation outlook by seven central banks between 1997 and 2010. Overall, we find no strong indications that central banks were less clear in explaining their policies when faced with higher uncertainty or a less favorable inflation outlook. The global financial crisis, however, did have a negative impact on clarity of central bank communication.
Series:
Working Paper No. 2012/009
Subject:
Banking Communications in revenue administration Financial crises Global financial crisis of 2008-2009 Inflation Inflation targeting Monetary policy Prices Revenue administration
Frequency:
Quarterly
English
Publication Date:
January 1, 2012
ISBN/ISSN:
9781463931148/1018-5941
Stock No:
WPIEA2012009
Pages:
24
Please address any questions about this title to publications@imf.org