“Decoding” Policy Perspectives: Structural Topic Modeling of European Central Bankers’ Speeches

This research analyzes the speeches and interviews of high-level European Central Bank decision makers from 1997 to 2021 to identify clusters of prominent topics. Transparency is a crucial aspect of modern monetary policy, and public speeches and interviews by central bankers play a vital role in ac...

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Bibliographic Details
Published in:Journal of risk and financial management Vol. 16; no. 7; p. 329
Main Authors: Warin, Thierry, Stojkov, Aleksandar
Format: Journal Article
Language:English
Published: Basel MDPI AG 01.07.2023
Subjects:
Bankers
Central banks
Communication
Computational linguistics
Credibility
Data collection
Data mining
Decision making
Economic crisis
Inflation
Interest rates
International finance
Language processing
Literature reviews
Macroeconomics
Monetary policy
Money markets
Natural language interfaces
Pandemics
Rankings
Speeches
ISSN:1911-8074, 1911-8066, 1911-8074
Online Access:Get full text
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Summary:This research analyzes the speeches and interviews of high-level European Central Bank decision makers from 1997 to 2021 to identify clusters of prominent topics. Transparency is a crucial aspect of modern monetary policy, and public speeches and interviews by central bankers play a vital role in achieving it. Our study employs structural topic modeling to compare the prevalence of topics during the Global Financial Crisis, pandemic crisis, and periods of heightened inflation. Additionally, we explore the impact of central bank independence on official rhetoric.
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ISSN:1911-8074
1911-8066
1911-8074
DOI:10.3390/jrfm16070329