ECB paper finds press conferences have ‘gained in importance’


Press conferences have "gained in importance" as a means for the European Central Bank (ECB) to provide information about current and future economic developments during the recent crises, according to an ECB working paper published today.

In ECB monetary policy surprises identification through cojumps in interest rates, Lars Winkelmann, Markus Bibinger and Tobias Linzert develop a new econometric approach to examining the response of yield cures to monetary policy announcements.

The authors

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