Unité mixte de recherche 7235

Capturing international influences in US monetary policy through a NLP approach

Intervenant : Nicolas de Roux

Co-auteur: Laurent Ferrara

Discutants : Thomas Chuffart (sénior) et Stéphane Matton (junior

Abstract: We construct indicators of the attention paid by US monetary policymakers to the international situation. We apply natural language processing techniques to minutes of the Federal Open Market Committee. We discuss the channels through which foreign economic conditions can impact US monetary policy and their relative importance in Fed discussion. By adding these text-based indicators to a standard forward-looking Taylor rule, we derive a quantitative measure of the external influences on decisions made by the US Federal Reserve. Our results show that when international matters are discussed at greater lengths, the Fed is more accommodating than what would be suggested by the Taylor Rule.

AGENDA

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Lunch

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Law, Institutions and Economics in Nanterre (LIEN)

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Développement Durable Environnement et Energie (DDEE)

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Doctorants

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jeudi 15 décembre 2022

Groupe de travail « Intelligence artificielle »

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TBA

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Groupe de travail Economie Comportementale

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TBA

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Lunch

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Nouveaux doctorants

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