IMF Working Papers

Clarity of Central Bank Communication About Inflation

By Ales Bulir, David-Jan Jansen, Martin Cihak

January 1, 2012

Download PDF

Preview Citation

Format: Chicago

Ales Bulir, David-Jan Jansen, and Martin Cihak. Clarity of Central Bank Communication About Inflation, (USA: International Monetary Fund, 2012) accessed November 8, 2024
Disclaimer: This Working Paper should not be reported as representing the views of the IMF.The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate

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.

Subject: Banking, Communications in revenue administration, Financial crises, Global financial crisis of 2008-2009, Inflation, Inflation targeting, Monetary policy, Prices, Revenue administration

Keywords: Central bank communication, Clarity, Communication, Communication clarity, Communications in revenue administration, Contemporaneous inflation gap, Global, Global financial crisis of 2008-2009, Inflation, Inflation expectation, Inflation factor, Inflation outlook, Inflation report, Inflation targeting, Monetary policy, Transparency, WP

Publication Details

  • Pages:

    24

  • Volume:

    ---

  • DOI:

    ---

  • Issue:

    ---

  • Series:

    Working Paper No. 2012/009

  • Stock No:

    WPIEA2012009

  • ISBN:

    9781463931148

  • ISSN:

    1018-5941

You May Also Be Interested In...

Central Bank Digital Currency: Progress And Further Considerations

November 8, 2024

Lao People's Democratic Republic: 2024 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Lao People's Democratic Republic

November 8, 2024

Vietnam: Technical Assistance Report-Report on Residential Property Price Index Mission (April 22-26, 2024)

November 8, 2024

Citizens Perceptions of Tax Authorities and Tax Efficiency

November 8, 2024