Results

Journal article

Quarterly Journal of Economics:

Transparency and deliberation within the FOMC: a computational linguistics approach

How does transparency, a key feature of central bank design, affect monetary policy makers' deliberations? Theory predicts a positive discipline effect and negative conformity effect. We empirically explore these effects...Read more...

CentrePiece article

The dilemma of central bank transparency

If central banks publish the transcripts of their internal policy debates, will discussions be enhanced or inhibited? Michael McMahon and colleagues use tools from computational linguistics to analyse the positive and ne...Read more...

CEP discussion paper

Transparency and deliberation within the FOMC: a computational linguistics approach

How does transparency, a key feature of central bank design, affect the deliberation of monetary policymakers? We exploit a natural experiment in the Federal Open Market Committee in 1993 together with computational ling...Read more...