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.

Caiazza, S., Fiordelisi, F., Galloppo, G., Ricci, O. (2022). Informal central bank communication: The role of investor memories. ECONOMICS LETTERS.

Informal central bank communication: The role of investor memories

Stefano Caiazza;Giuseppe Galloppo;Ornella Ricci
2022-01-01

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.
Pubblicato
Rilevanza internazionale
Articolo
Esperti anonimi
Settore SECS-P/02
English
Monetary policy; Central bank communication
https://www.sciencedirect.com/science/article/pii/S0165176522002002
Caiazza, S., Fiordelisi, F., Galloppo, G., Ricci, O. (2022). Informal central bank communication: The role of investor memories. ECONOMICS LETTERS.
Caiazza, S; Fiordelisi, F; Galloppo, G; Ricci, O
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/2108/311564
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