Measuring Communication Quality of Interest Rate Announcements

Autor:	Jonathan Benchimol, Itamar Caspi, Sophia Kazinnik
Rok vydání:	2023
Předmět:	General Economics Econometrics and Finance General Business Management and Accounting
Zdroj:	The Economists’ Voice.
ISSN:	1553-3832 2194-6167
DOI:	10.1515/ev-2022-0023
Popis:	We use text-mining techniques to measure the accessibility and quality of information within the texts of interest rate announcements published by the Bank of Israel over the past decade. We find that comprehension of interest rate announcements published by the Bank of Israel requires fewer years of education than interest rate announcements published by the Federal Reserve and the European Central Bank. In addition, we show that the sentiment within these announcements is aligned with economic fluctuations. We also find that textual uncertainty is correlated with the volatility of the domestic financial market.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::428193491c4a3662b82f85f92a418726 https://doi.org/10.1515/ev-2022-0023 Zobrazit plný text záznamu