On the consistency and effectiveness of central bank communication: Evidence from the ECB (original) (raw)

European Journal of Political Economy, 2007

Verga Giovanni

Carlo Rosa

Abstract

... In this section, we want to test the consistency between ECB words and its subsequent deeds. ... In other words, when the incongruence of preferences between the central bank and the private sector is not too large, there is no incentive for the central bank to misrepresent its ...

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