April 2023

Post n°314

Towards more clarity in central bank communication

Published on 04/13/2023

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By Sylvérie Herbert, Klodiana Istrefi and Giulia Sestieri

Central banks are shifting toward greater clarity in communicating their policy decisions, as reflected in simpler and engaging versions of monetary policy statements. We show that while the policy statements of the ECB, the Fed and the Bank of England are complex and cover several topics, their simplified versions focus on the main challenges for the general public (currently inflation).

Chart 1. Most frequent words in the simplified versions of monetary policy communication
Chart 1. Most frequent words in the simplified versions of monetary policy communication
Updated on 04/13/2023 10:20
Post n°313

Job-to-job flows and wage dynamics

Published on 04/06/2023

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By Clémence Berson and Elisa Busson

Job-to-job moves usually enable employees to improve their pay or working conditions. It is therefore an important factor in wage dynamics. Resignations, which often indicate a job change, can be used to forecast wage and inflation trends.

Chart 1: Changes in resignation and job-to-job rates in France
Chart 1: Changes in resignation and job-to-job rates in France Source: Dares, Insee, authors' calculations. Note: Resignations (establishments with more than 10 employees) = quarterly data; job changes = annual data (Berson et al. 2020); shaded periods = negative change in real GDP.
Updated on 04/06/2023 10:41