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:: Volume 6, Issue 3 (Spring 2012) ::
J. Mon. Ec. 2012, 6(3): 41-79 Back to browse issues page
Behavioral Perspectives on Central Bank Communication for Financial Stability
Anton Comanescu
City University of Seattle, Economist, National Bank of Romania
Abstract:   (3015 Views)

Analyzing central bank communication during financial crises, we draw on a surprisingly informative parallel between management of natural disasters such as earthquakes on one hand, and the corresponding communication infrastructure and social interaction during financial turmoil, on the other. The role of social and emotional behavior thereof points to the importance of interpersonal communication for the dissemination of central bank information in a turbulent context. Overall, our research results inform central banks’ attempts to coordinate the desideration of monetary policy, prudential supervision and financial stability in a framework that takes into account social and psychological challenges in the financial markets and the society.

JEL Classification: D03, D83, E58, G01 

Keywords: central bank policies, financial crises, disaster management, social interaction
Full-Text [PDF 263 kb]   (702 Downloads)    
Type of Study: Research | Subject: Monetary Economics
Received: 2014/04/21 | Accepted: 2014/04/21 | Published: 2014/04/21
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Comanescu A. Behavioral Perspectives on Central Bank Communication for Financial Stability. J. Mon. Ec.. 2012; 6 (3) :41-79
URL: http://jme.mbri.ac.ir/article-1-49-en.html

Volume 6, Issue 3 (Spring 2012) Back to browse issues page
Journal of Money and Economy Journal of Money And Economy
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