Text mining analysis of monetary policy statements of RBI

IF 0.7 Q4 BUSINESS
Pooja Misra
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引用次数: 0

Abstract

Monetary policy is a principal tool by which a country's reserve bank or financial regulatory authority influences the speed and direction of overall economic activity and general rate at which prices increase or decline. Post 2016, the official monetary policy is communicated through a statement issued by Reserve Bank of India, conveying the decision and current and future outlook of the Monetary Policy Committee. The current research aims to delve into assimilating available monetary policy statements of the Reserve Bank of India post the adoption of inflation targeting framework (2016-2020) with the objective of identifying the: 1) taxonomy related to the communications of the Reserve Bank of India via monetary policy statements; 2) degree of association between inflation targeting and topics identified through topic modelling; 3) cosine similarity between inflation targeting and identified topics. The analysis quantifies communications of the RBI using tools from computational linguistics.
印度央行货币政策声明的文本挖掘分析
货币政策是一个国家的储备银行或金融监管机构影响整体经济活动的速度和方向以及价格上涨或下跌的一般速度的主要工具。2016年后,官方货币政策通过印度储备银行发布的声明进行沟通,传达货币政策委员会的决定以及当前和未来的展望。目前的研究旨在深入研究印度储备银行在采用通货膨胀目标制框架(2016-2020)后可用的货币政策声明,目的是确定:1)与印度储备银行通过货币政策声明的沟通相关的分类;2)通胀目标制与通过主题建模确定的主题之间的关联程度;3)通胀目标与确定主题之间的余弦相似性。该分析使用计算语言学的工具量化了RBI的通信。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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63.60%
发文量
81
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