Accueil > Actualités > Séminaire du mardi 26 mars 2019 : Matthieu PICAULT

Séminaire du mardi 26 mars 2019 : Matthieu PICAULT Du 26 mars 2019 16h00 au 26 mars 2019 17h20 | LEO, Salle des thèses

Le prochain séminaire aura lieu demain le mardi 26 mars 2019 de 16 h 00 à 17 h 20 en salle des thèses.

A cette occasion, notre cher collègue, Matthieu Picault, fera une présentation sur les méthodes d’analyses textuelles utilisées en Économie et en Finance en s'appuyant sur l'article intitulé  "Sentiment on Monetary Policy using textual analysis". 

Abstract

Using 25,000 articles from five international newspapers, we construct a measure of media sentiment regarding the European Central Bank policy actions and their consequences, the monetary policy sentiment (MPS) index. We then analyze the effect of ECB governing council members' communications between 2006 and 2016 on MPS together with standard policy factors. We find that communications of the president during the press conference and communications of governing council members on the economic outlook significantly affect media sentiment. We evaluate the relevance of sentiment on monetary policy by examining how it conditions the response of financial markets' inflation expectations to inflation surprises. Our analysis suggests that keeping media optimistic can help bringing inflation expectations back to suitable levels in times of desanchoring.