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Autor
Voloshchenko-Holda Lada (SGH Warsaw School of Economics, Poland), Niedziółka Paweł (SGH Warsaw School of Economics, Poland)
Tytuł
Central Bank Communication in Unconventional Times: Some Evidence from a Textual Analysis of the National Bank of Poland Communication during the COVID-Crisis
Źródło
Economics and Business Review, 2024, vol. 10 (24), nr 1, s. 101-124, rys., bibliogr. 43 poz.
Słowa kluczowe
Banki centralne, Analiza tekstu, Stabilność finansowa, Stabilność cen, Polityka pieniężna, Inflacja
Central banks, Text analysis, Financial sustainability, Price stability, Monetary policy, Inflation
Uwagi
Klasyfikacja JEL: E52, E58
summ.
Firma/Organizacja
Narodowy Bank Polski (NBP)
National Bank of Poland
Abstrakt
The article analyses the communication of the National Bank of Poland (NBP) one year after the announcement of the crisis response package adopted after the outbreak of the COVID pandemic. It presents the perspective of a central bank that first entered unconventional monetary ground during the COVID-crisis. The analysis aims to answer the question of what message about monetary policy objectives may have been conveyed in communication with regard to possible interpretations of the response actions by economic agents. Misinterpretations of policy actions at the time, fuelled by the increased attention to inflation, could later contribute to higher inflation persistence. The article presents findings based on the innovative use of MAXQDA Pro 2022 solutions for textual analysis of central bank's communication. It points to three inconsistencies in the NBP's communication that could potentially lead to misinterpretation of the NBP's policy actions in response to the crisis and thus affect the formation of expectations. (original abstract)
Dostępne w
Biblioteka SGH im. Profesora Andrzeja Grodka
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego w Poznaniu
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Bibliografia
Pokaż
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Cytowane przez
Pokaż
ISSN
2392-1641
Język
eng
URI / DOI
https://doi.org/10.18559/ebr.2024.1.1039
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