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Monetary policy --- Banks and banking, Central --- European Central Bank
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Money. Monetary policy --- Monetary policy --- Money --- Politique monétaire --- Monnaie --- Congresses --- Congrès --- European Central Bank --- -332.46 --- Monetary management --- Economic policy --- Currency boards --- Money supply --- Conferences - Meetings --- AA / International- internationaal --- 333.400 --- 334.151.21 --- 333.80 --- 331.150 --- 333.846.0 --- geldwezen --- monetaire politiek --- Geldwezen: algemeenheden. --- Europese centrale bank. ESCB. Centrale banken. --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden. --- Geschiedenis van het geldwezen: algemeenheden. --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden. --- Currency question --- Politique monétaire --- Congrès --- Fiat money --- Free coinage --- Monetary question --- Scrip --- Currency crises --- Finance --- Finance, Public --- Legal tender --- Geschiedenis van het geldwezen: algemeenheden --- Geldwezen: algemeenheden --- Geld-, bank- en kredietpolitiek. Kapitaalmarkt en -rente: algemeenheden --- Verband tussen het monetair, bank- en kredietbeleid en de economische ontwikkeling: algemeenheden --- Europese centrale bank. ESCB. Centrale banken --- 332.46 --- European Central Bank.
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The paper presents a methodology for measuring the clarity of central bank communication, illustrating it with the case of the European Central Bank (ECB) in 1999-2007. The analysis identifies the ECB's written communication as clear about 95 percent of instances, which is comparable to, or even better than, other central banks for which a similar analysis is available. We also find that the additional information contained in the ECB's Monthly Bulletins helps to improve communication clarity compared to ECB's press releases. In particular, the Bulletins contain useful clarifying information on individual inflation factors and the overall forecast risk; in contrast, the bulletin's communication on monetary shocks has a negative, albeit small, impact on clarity.
Banks and banking, Central --- Communication --- Monetary policy --- Econometric models. --- European Central Bank --- Monetary management --- Communication, Primitive --- Mass communication --- Banker's banks --- Banks, Central --- Central banking --- Central banks --- ECB --- Banque centrale européenne --- BCE --- Banco Central Europeo --- Banca centrale europea --- Europäische Zentralbank --- Európska centrálna banka --- Economic policy --- Currency boards --- Money supply --- Sociology --- Banks and banking --- EZB --- Banks and Banking --- Inflation --- Money and Monetary Policy --- Public Finance --- Forecasting --- Taxation, Subsidies, and Revenue: General --- Price Level --- Deflation --- Monetary Policy --- Forecasting and Other Model Applications --- Interest Rates: Determination, Term Structure, and Effects --- Public finance & taxation --- Macroeconomics --- Monetary economics --- Economic Forecasting --- Banking --- Communications in revenue administration --- Inflation targeting --- Economic forecasting --- Central bank policy rate --- Revenue --- Prices --- Interest rates --- Czech Republic
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Today, 318 million people in 15 countries use the Euro, which now rivals the importance of the US Dollar in the world economy. This is an outcome that few would have predicted with confidence when the Euro was launched. How can we explain this success and what are the prospects for the future? There is nobody better placed to answer these questions than Otmar Issing, who as a founding member of the Executive Board of the European Central Bank (1998-2006), was one of the Euro's principal architects. His story is a unique insider account, combining personal memoir with reference to the academic and policy literature. Free of jargon, this is a very human reflection on a unique historical experiment and a key reference for all academics, policy makers, and 'Eurowatchers' seeking to understand how the Euro has got to where it is today and what challenges lie ahead.
Monetary unions
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Monetary policy
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Euro
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Eurozone
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Unions monétaires
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Politique monétaire
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Euro (Monnaie)
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Zone euro
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European Central Bank
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Europe
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Economic integration
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Intégration économique
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Euro area
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262 Europese economische en monetaire politiek
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EEC / European Union - EU -Europese Unie - Union Européenne - UE
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334.151.20
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334.151.21
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334.151.25
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339.7
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