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The long journey of central bank communication

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Central bank communication has evolved from secretiveness to transparency and accountability—from a reluctance to give out any information at all to the belief in communication as a panacea for effective policy. In this book, Otmar Issing, himself a former central banker, discusses the journey toward transparency in central bank communication. Issing traces the development of transparency, examining the Bank of England as an example of extreme reticence and European Central Bank's President Mario Draghi as a practitioner of effective communication. He argues that the ultimate goal of central bank communication is to make monetary policy more effective, and describes the practice and theory of communication as an evolutionary process. For a long time, the Federal Reserve never made its monetary policy decisions public; the European Central Bank, on the other hand, had to adopt a modern communication strategy from the outset.

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Detail Information

Series Title

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Call Number

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Publisher

: The MIT Press., 2019

Collation

1 online resource (104 pages).

Language

English

ISBN/ISSN

9780262355995

Classification

NONE

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Edition

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Subject(s)

Banks and banking, Central.
Communication in financial institutions.

Specific Detail Info

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Statement of Responsibility

Otmar Issing.

Other Information

Cataloger

arin

Source

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Validator

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Digital Object Identifier (DOI)

https://doi.org/10.7551/mitpress/12416.001.0001

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