Discussion Paper
Assessing Monetary Policy Globally: Evidence from LLMs and Semi-structural Models
Abstract: Over the past decades, central bank communication has become an increasingly important component of modern monetary policy frameworks. Policy rates, asset purchases, and balance-sheet tools remain central to the transmission of monetary policy, but speeches, press conferences, forward guidance, and other forms of public communication have all played a direct role in shaping expectations about the future path of policy.
https://doi.org/10.17016/2380-7172.4175
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Bibliographic Information
Provider: Board of Governors of the Federal Reserve System (U.S.)
Part of Series: FEDS Notes
Publication Date: 2026-10-09
Number: 2026-10-09-3