RPN Central Bank
Research Policy Network (RPNs) Central Banking

Central Bank Communication

Years active
Project lead

Michael McMahon

Professor of Economics Department of Economics, University of Oxford

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/

Members

Ana Aguilar

Senior Economist, Office for the Americas Bank for International Settlements

RPN Member, Central Bank Communication

Michael Bauer

Professor of Financial Economics Universität Hamburg

RPN Member, Central Bank Communication / Fellow, Monetary Economics and Fluctuations

Olivier Coibion

Malcolm Forsman Centennial Professor of Economics The University of Texas at Austin

Ernst Fehr

Fellow, Labour Economics / Fellow, Political Economy / RPN Member, Central Bank Communication

Robert Goodhead

Economist, Monetary Policy Division Central Bank Of Ireland

RPN Member, Central Bank Communication

Yuriy Gorodnichenko

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

Refet Gürkaynak

Professor of Economics Bilkent University Ankara Bilkent University

Fellow, Monetary Economics and Fluctuations / Programme Director, Monetary Economics and Fluctuations / Fellow, Monetary Economics and Fluctuations / Programme Director, Monetary Economics and Fluctuations / RPN Member, Central Bank Communication

Stephen Hansen

Fellow, Organizational Economics / RPN Member, Central Bank Communication

Peter Karadi

Fellow, Monetary Economics and Fluctuations / RPN Member, Central Bank Communication / Fellow, Monetary Economics and Fluctuations

Karel Mertens

Associate Professor of Economics at the Department of Economics Cornell University; Economist Federal Reserve Bank of Dallas

Fellow, Monetary Economics and Fluctuations / RPN Member, Central Bank Communication

Emanuel Moench

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

Affiliate, Monetary Economics and Fluctuations / RPN Member, Central Bank Communication

Emi Nakamura

Fellow, Monetary Economics and Fluctuations / RPN Member, Central Bank Communication

Ricardo Reis

A.W. Phillips Professor of Economics London School of Economics and Political Sciences

Giovanni Ricco

Chercheur Associé, OFCE Sciences-Po Paris - University; Professor of Economics University Of Warwick

Giulia Sestieri

Economist, International Macroeconomics Division Bank of France

RPN Member, Central Bank Communication