Blinder et al. (2008) define central bank communication broadly as the information that the central bank makes available about its current and future policy objectives, the current economic outlook, and the likely path for future monetary policy decisions. As new communications technologies increasingly disintermediate traditional media, and also allow for new ways of interaction, a deeper understanding of the entire communications process becomes a crucial input into policy decisions.

There are important questions regarding the channels of effects of communication and their importance for expectations of different agents in the economy. There are also important gaps in our knowledge of the best way to communicate with different audiences and whether different media or ways of communication are more or less effective.

Leadership of the RPN is supported by a Steering Committee:- Gabriel Glocker (European Central Bank) and Michael Ehrmann (European Central Bank)

Virtual Research Office Hours

Michael McMahon sets aside a regular slot to speak to researchers working in the area. To book a slot, please visit http://mcmahonecon.com/rpn/rpnofficehours/

Events

The Central Bank Communication RPN hosts a monthly seminar series (virtually) and will host in-person conferences and workshops, some of which will be organised with central banks and communication experts, as well as other academic research centres such as the Nuffield Centre for Applied Macro Policy at Oxford University (NuCAMP) or the Centre for Macro Economics at LSE (CfM). Some events will be supported as part of ERC Consolidator Grant 819131 (NewMonEc).

Leader

Michael Mcmahon

Professor of Economics and Senior Research Fellow University Of Oxford

Fellow, Monetary Economics and Fluctuations

Steering Committee

Michael Ehrmann

Head of the Monetary Policy Research Division European Central Bank

Members

Ana Aguilar

Senior Economist, Office for the Americas Bank For International Settlements

Elga Bartsch

Blackrock; Head of Macro Research BlackRock Investment Institute; Director General for Economic Policy Federal Ministry for Economic Affairs and Climate Action of Germany

Richard Barwell

Head of Macro Research and Investment Strategy BNP Paribas Asset Management

Michael Bauer

Senior Research Advisor Federal Reserve Bank Of San Francisco

Fellow, Monetary Economics and Fluctuations

Anna Cieslak

Associate Professor of Finance, Fuqua School of Business Duke University

Affiliate, Asset Pricing

Olivier Coibion

Malcolm Forsman Centennial Professor of Economics University Of Texas At Austin

Stefano Eusepi

Research Officer Federal Reserve Bank Of New York; Professor University Of Texas At Austin

Ester Faia

Professor Goethe University Frankfurt

Fellow, International Macroeconomics and Finance / Fellow, Macroeconomics and Growth / Fellow, Labour Economics

Ernst Fehr

Professor and Director of the UBS Center for Economics in Society University Of Zurich

Petra Gerlach-Kristen

Economic And Social Research Institute; Swiss National Bank (SNB); Associate Research Professor Trinity College Dublin

Yuriy Gorodnichenko

Quantedge Presidential Professor, Department of Economics University of California, Berkeley

Refet Gürkaynak

Professor of Economics Bilkent University

Fellow, Monetary Economics and Fluctuations / Programme Director, Monetary Economics and Fluctuations

Stephen Hansen

Professor of Economics University College London

Fellow, Organizational Economics / Fellow, Monetary Economics and Fluctuations

Paul Hubert

Researcher Banque De France; Associate Researcher OFCE Sciences Po

David-Jan Jansen

Economist, Financial Stability Division De Nederlandsche Bank; Lecturer Vrije Universiteit Amsterdam

Peter Karadi

Senior Lead Economist European Central Bank

Fellow, Monetary Economics and Fluctuations

Michael Lamla

Researcher Eth Zurich; Professor of Macroeconomics University Of Duisburg-essen; University Of Exeter

Philip Lane

Whately Professor of Political Economy Trinity College Dublin

Fellow, International Macroeconomics and Finance

Alessandro Merli

Adjunct Professor Fondazione Bologna University Business School; Associate Fellow Johns Hopkins University

Karel Mertens

Associate Professor of Economics Cornell University; Senior Vice President and Director of Research Federal Reserve Bank Of Dallas

Emanuel Moench

Professor of Financial and Monetary Economics Frankfurt School Of Finance & Management

Fellow, Monetary Economics and Fluctuations

Emi Nakamura

Professor of Business and Economics Columbia University; Faculty Research Fellow National Bureau Of Economic Research (NBER); Chancellor's Professor of Economics University of California, Berkeley

Fernanda Nechio

Vice President, Economic Research Federal Reserve Bank Of San Francisco

Huw Pill

Chief Economist and Executive Director of Monetary Analysis Bank Of England; Goldman Sachs

Ricardo Reis

A.W. Phillips Professor of Economics London School Of Economics And Political Science

Fellow, Monetary Economics and Fluctuations

Giovanni Ricco

Professor Ecole Polytechnique; Chercheur Associé at OFCE Sciences Po Paris; Professor of Economics University Of Warwick

Hyun Song Shin

Economic Adviser and Head of the Monetary and Economic Department Bank For International Settlements

RPN Member, Fintech and Digital Currencies / RPN Member, European Financial Architecture / Fellow, Asset Pricing / Fellow, Banking and Corporate Finance

Silvana Tenreyro

External Monetary Policy Committee Member Bank Of England; Professor London School Of Economics And Political Science

Michael Weber

Associate Professor of Finance University Of Chicago

Affiliate, Monetary Economics and Fluctuations / Affiliate, Asset Pricing

Central Bank Communication RPN Session at the CEPR Paris Symposium 2023

On Friday, 8 December 2023, 10:00 - 11:00 (Paris time), the Central Bank Communication RPN held a Session at Banque de France during the CEPR Paris Symposium 2023.

Learn more

Past events

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