Complexicity of ECB Communication and Financial Market Trading

Complexicity of ECB Communication and Financial Market Trading

We empirically examine how complexity of ECB communications affects financial market trading based on high-frequency data from European stock index futures trading. Our sample covers ECB press conferences between January 2009 and December 2017, during which un-conventional monetary policy measures (...

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Bibliographic Details
Published in:MAGKS - Joint Discussion Paper Series in Economics (Band 19-2019)
Main Authors: Hayo, Bernd, Henseler, Kai, Rapp, Marc Steffen, Zahner, Johannes
Format: Article
Language:English
Published: Philipps-Universität Marburg 2019
Subjects:
Wirtschaft
readability
central bank communication
European stock markets
ECB
textual analysis
financial markets
linguistic complexity
Economics
Online Access:PDF Full Text
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