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Inflation Expectations of Experts and ECB Communication

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The communication policy of the European Central Bank attracts a lot of attention from financial markets. This paper analyses the informational content of the monthly introductory statements of the ECB president explaining interest rate decisions with regard to inflation expectations of financial market experts for the euro area from February 1999 to June 2007. Estimations are conducted for the influence of ECB communication on expectations formation besides other macroeconomic variables. As the results indicate, the indicator measuring the informational content of ECB rhetoric contributes to the explanation of inflation expectations formation.

Language
Englisch

Bibliographic citation
Series: ZEW Discussion Papers ; No. 07-054

Classification
Wirtschaft
Expectations; Speculations
Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
Central Banks and Their Policies
Monetary Policy
Subject
inflation expectations formation
central bank communication
Carlson-Parkin method
survey expectations
Inflationserwartung
Finanzanalysten
Zentralbank
Staatliche Information
Informationswert
Schätzung
EU-Staaten

Event
Geistige Schöpfung
(who)
Ullrich, Katrin
Event
Veröffentlichung
(who)
Zentrum für Europäische Wirtschaftsforschung (ZEW)
(where)
Mannheim
(when)
2007

Handle
Last update
10.03.2025, 11:42 AM CET

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Object type

  • Arbeitspapier

Associated

  • Ullrich, Katrin
  • Zentrum für Europäische Wirtschaftsforschung (ZEW)

Time of origin

  • 2007

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