Eurozone’s unique policy framework creates communication confusion, ECB paper shows
The potential for miscommunication is structurally higher in the eurozone than in single-country currency areas, a recent report by the ECB argues.
The paper, entitled Loose Lips Sinking Markets?, examined 25,000 news media releases between January 2009 and October 2011 to investigate to what extent political communication has had an impact on the sovereign bond spreads of selected eurozone countries over the German bund.
Authors Thomas Gade, Marion Salines, Gabriel Glöckler and Steffen
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