My research focuses on two relevant topics for monetary policy:
- Central banks communication : I study the content of central banks communications and its impact on asset prices and their predictability. An important step for empirical analysis in Economics and Finance is to measure objective quantitative indicators for the content of central banks communications (press conferences, statements, speeches, ...). Using recent methods and techniques from textual analysis, I analyze more specifically communications related to the non-standard (unconventional) monetary policies implemented since 2007.
- The bank lending channel: inside the credit channel, the bank lending channel explains how a change of monetary policy will influence lending from banks, especially with low level of capital, as their access to external funding is either restricted or possible for a higher premium. My research uses data from the syndicated loan market to evaluate banks' individual behavior and reaction to monetary policy decisions.