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How do the EM Central Bank talk? A Big Data approach to the Central Bank of Turkey

Author

Listed:
  • Joaquin Iglesias
  • Alvaro Ortiz
  • Tomasa Rodrigo

Abstract

We apply the natural language processing or computational linguistics (NLP) to the analysis of the communication policy (i.e statements and minutes) of the Central Bank of Turkey (CBRT). While previous literature has focused on Developed countries, we extend the NLP analysis to the Central Banks of the Emerging Markets using the Dynamic Topic Modelling approach.

Suggested Citation

  • Joaquin Iglesias & Alvaro Ortiz & Tomasa Rodrigo, 2017. "How do the EM Central Bank talk? A Big Data approach to the Central Bank of Turkey," Working Papers 17/24, BBVA Bank, Economic Research Department.
    • Handle: RePEc:bbv:wpaper:1724
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    References listed on IDEAS

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    19. Alicia Garcia-Herrero & Eric Girardin & Enestor Dos Santos, 2015. "Follow what I do and also what I say: monetary policy impact on Brazil’s financial markets," Working Papers 1512, BBVA Bank, Economic Research Department.
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    Cited by:

    1. María del Pilar Cruz & Hugo Peralta & Bruno Ávila, 2020. "Análisis de Sentimiento Basado en el Informe de Percepciones de Negocios del Banco Central de Chile," Working Papers Central Bank of Chile 862, Central Bank of Chile.
    2. Ostapenko, Nataliia, 2020. "Central Bank Communication: Information and Policy shocks," MPRA Paper 101278, University Library of Munich, Germany, revised 21 Jun 2020.
    3. Parle, Conor, 2022. "The financial market impact of ECB monetary policy press conferences — A text based approach," European Journal of Political Economy, Elsevier, vol. 74(C).

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    More about this item

    Keywords

    Working Paper ; Central Banks ; Digital economy ; Economic Analysis ; Emerging Economies ; Turkey;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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