Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence
综述近二十年央行沟通的学术文献，发现沟通能影响金融市场、提高政策可预测性并帮助实现宏观经济目标，但最优策略尚无共识。
Over the last two decades, communication has become an increasingly important aspect of monetary policy. These real-world developments have spawned a huge new scholarly literature on central bank communication—mostly empirical, and almost all of it written in this decade. We survey this ever-growing literature. The evidence suggests that communication can be an important and powerful part of the central bank's toolkit since it has the ability to move financial markets, to enhance the predictability of monetary policy decisions, and potentially to help achieve central banks' macroeconomic objectives. However, the large variation in communication strategies across central banks suggests that a consensus has yet to emerge on what constitutes an optimal communication strategy.