This paper applies algorithmic analysis to financial market text-based data to assess how
narratives and sentiment might drive financial system developments. We find changes in …

Does policymakers' choice of words matter? We assess empirically whether the tone of
FOMC statements contains useful information for financial market participants and explore …

Central banks often draft press releases announcing monetary policy decisions starting from
the previous release. This makes it straightforward to see how the content has evolved, but …

This research paper explores the contributing factors behind the success of 146 ICOs from
June 2017 to November 2017 by analysing the role of ICO characteristics, team quality and …

We explore empirically the theoretical prediction that optimism or pessimism have aggregate
effects, in the context of monetary policy. First, we quantify the tone conveyed by FOMC …

How do private agents understand central bank actions and communication? This paper
investigates private agents' interpretation of central bank signals about future policy and the …

We test for bias and efficiency of the ECB inflation forecasts using a confidential dataset of
ECB macroeconomic quarterly projections. We investigate whether the properties of the …

Studying formation of inflation expectations in the euro area we propose a novel method,
integrating rational, adaptive and sticky-information models. We find that in recent turbulent …

We apply textual analysis to extract the tone (sentiment) from the introductory statements to
the ECB's press conferences regarding economic outlook. By combining this information …

We propose a theory-based method to assess the impact of central banks' inflation forecasts
on private inflation expectations. We use regressions derived from a leader-follower model …