Central bankers became eerily quiet on touchy subjects when they were conducting asset purchase programmes, a new paper argues.
Noisy Politics, Quiet Technocrats: Strategic Silence by Central Banks, published on June 25, finds that monetary authorities intentionally pre-empted, evaded and countered efforts to politicise their activities when they were running quantitative easing (QE) programmes.
The authors, Benjamin Braun and Maximilian Düsterhöft, analyse 11,243 public speeches from 18 major
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