Clarity of Central Bank Communication About Inflation

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...

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Bibliographic Details
Main Author: Bulir, Ales
Other Authors: Jansen, David-Jan, Cihak, Martin
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2012
Series:IMF Working Papers
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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245 0 0 |a Clarity of Central Bank Communication About Inflation  |c Ales Bulir, David-Jan Jansen, Martin Cihak 
260 |a Washington, D.C.  |b International Monetary Fund  |c 2012 
300 |a 24 pages 
651 4 |a United Kingdom 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Inflation 
653 |a Revenue administration 
653 |a Banks 
653 |a Financial crises 
653 |a Public finance & taxation 
653 |a Banks and banking 
653 |a Monetary economics 
653 |a Inflation targeting 
653 |a Deflation 
653 |a Micro Finance Institutions 
653 |a Mortgages 
653 |a Global Financial Crisis, 2008-2009 
653 |a Price Level 
653 |a Global financial crisis of 2008-2009 
653 |a Taxation, Subsidies, and Revenue: General 
653 |a Banks and Banking 
653 |a Prices 
653 |a Macroeconomics 
653 |a Monetary policy 
653 |a Banking 
653 |a Central Banks and Their Policies 
653 |a Communications in revenue administration 
653 |a Public Finance 
653 |a Monetary Policy 
653 |a Money and Monetary Policy 
653 |a Revenue 
653 |a Financial Crises 
700 1 |a Jansen, David-Jan 
700 1 |a Cihak, Martin 
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520 |a 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