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Informal Central Bank Communications: the role of investor memories

Caiazza, Stefano and Fiordelisi, Franco and Galloppo, Giuseppe and Ricci, Ornella (2022) 'Informal Central Bank Communications: the role of investor memories.' Economics Letters. ISSN 0165-1765 (In Press)

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Abstract

Central bank informal communication became more frequent and acquired more mass media attention after the global financial crisis. Do investors remember past central bank communications when a new communication is released? Focusing on the United States, we show that abnormal stock returns increase as informal communications are repeated over time and within a short distance from each other.

Item Type: Article
Uncontrolled Keywords: Monetary policy; Central bank communication
Divisions: Faculty of Social Sciences > Essex Business School
Faculty of Social Sciences > Essex Business School > Essex Finance Centre
SWORD Depositor: Elements
Depositing User: Elements
Date Deposited: 24 May 2022 14:45
Last Modified: 09 Jun 2022 16:30
URI: http://repository.essex.ac.uk/id/eprint/32842

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