RPN Central Bank
Research Policy Network (RPNs) Central Banking

Central Bank Communication

Years active
Project lead

Michael Mcmahon

Professor of Economics and Senior Research Fellow 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/

Steering Committee

Members

Ana Aguilar

Senior Economist, Office for the Americas Bank For International Settlements

RPN Member, Central Bank Communication

Elga Bartsch

RPN Member, European Economic Policy / RPN Member, Central Bank Communication

Michael Bauer

Senior Research Advisor Federal Reserve Bank Of San Francisco; Professor of Economics (on leave) University Of Hamburg

Ryan Chahrour

Professor of Economics Cornell University

RPN Member, Central Bank Communication

Anna Cieslak

Associate Professor of Finance, Fuqua School of Business Duke University

RPN Member, Central Bank Communication / 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

Ernst Fehr

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

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

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

RPN Member, Central Bank Communication

Philip Lane

Whately Professor of Political Economy Trinity College Dublin

Karel Mertens

Associate Professor of Economics Cornell University; Senior Economist and Policy Advisor Federal Reserve Bank Of Dallas

Emanuel Moench

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

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

RPN Member, Central Bank Communication

Ricardo Reis

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

Giovanni Ricco

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

Hyun Song Shin

Co-Lead of the Monetary and Economic Department and Senior Management Member of the Executive Committee Bank For International Settlements

RPN Member, Central Bank Communication / 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

Peter Tillmann

Professor of Economics University Of Giessen

RPN Member, Central Bank Communication

Dmitri Vinogradov

Professor of Finance University Of Glasgow

RPN Member, Central Bank Communication

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.

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