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  • "How does transparency, a key feature of central bank design, affect monetary policy makersÂ’ deliberations? Theory predicts a positive discipline effect and negative conformity effect. We empirically explore these effects using a natural experiment in the Federal Open Market Committee in 1993 and computational linguistics algorithms. We first find large changes in communication patterns after transparency. We then propose a difference-in-differences approach inspired by the career concerns literature, and find evidence for both effects. Finally, we construct an influence measure that suggests the discipline effect dominates." (Verlagsinformation) (xsd:string)
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  • Englisch (EN) (xsd:string)
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  • Transperency and deliberation within the FOMC : a computational linguistics approach (xsd:string)
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  • Buch (de)
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  • books (en)
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  • In: The Quaterly Journal of Economics, vol. 133(2018) no. 2 ; p. 801-870 (xsd:string)
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