ECB vs Bundesbank: Diverging Tones and policy Effectiveness

The present paper studies the consequences of conflicting narratives for the transmission of monetary policy shocks. We focus on conflict between the presidents of the ECB and the Bundesbank, the main protagonists of monetary policy in the euro area, who often disagreed on policy over the past two d...

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Bibliographic Details

Published in:	MAGKS - Joint Discussion Paper Series in Economics (Band 20-2018)
Main Authors:	Tillmann, Peter, Walter, Andreas
Format:	Article
Language:	English
Published:	Philipps-Universität Marburg 2018
Subjects:	Wirtschaft speeches diverging tones text analysis monetary transmission Central bank communication Economics
Online Access:	PDF Full Text
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