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Text Analysis

2 papers tracked 0 forthcoming

12 concepts covered in this topic

alternative FOMC statements Central bank loss function De facto inflation target Hockey stick loss function Inflation-focusing text segments Linear-exponential (Linex) loss function monetary policy stance novelty Piecewise linear (V-shaped) loss function tone Tone (net negativity) Universal Sentence Encoder (USE)

Showing 2 papers

Published American Economic Journal: Macroeconomics Published Jul 2026

Deciphering Federal Reserve Communication via Text Analysis of Alternative FOMC Statements

Taeyoung Doh · Dongho Song · Shu-Kuei Yang

This paper proposes a text-based measure of monetary policy stance by modelling FOMC post-meeting statements as convex combinations of the staff-drafted dovish ("alternative A") and hawkish …

Central Bank Communication Monetary Policy Shocks Text Analysis High Frequency Identification Free Read ↗

Online First Journal of Money, Credit and Banking Online 7 May 2026

Reading between the Lines — Uncovering Asymmetry in the Central Bank Loss Function

Markus Haavio · Joni Heikkinen · Pirkka Jalasjoki · Juha Kilponen · Maritta Paloviita · Ilona Vänni

This paper estimates the European Central Bank's loss function directly rather than inferring it from a reaction function, using the tone of the Governing Council's press conference introductory …

Central Bank Communication Monetary Policy Rules Optimal Policy Text Analysis Free Read ↗