On the consistency and effectiveness of central bank communication: Evidence from the ECB

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The information content of central bank minutes (2012, unknown): “Most of this research has focused on the communication policy of the European Central Bank (ECB) (see, for instance, Heinemann and Ullrich, 2007; Rosa and Verga, 2007; Jansen and De Haan, 2009; Rosa, 2009; and Sturm and De Haan, 2011).9 The typical approach is to investigate whether some indicator…”
Explaining Monetary Policy in Press Conferences (2018, background): “6 A number of studies have constructed wording indicators to classify the content of the introductory statements of the ECB’s press conferences (Berger, de Haan, and Sturm 2006; Heinemann and Ulrich 2007; Rosa and Verga 2007 ), showing that there have been significant changes in the tone and the me”
Interest Rate Setting by the ECB, 1999-2006: Words and Deeds (2012, background): “Rosa and Verga (2007) extend their earlier analysis and show that the statements contain information useful for forecasting future changes in monetary policy in the euro area, and that this information is not contained in macroeconomic aggregates or market interest rates.”