ECB Communication Dashboards
The Euro sign in Frankfurt, GermanyCentral bank communication is at the heart of discussions of macroeconomic policy. For decades, a productive field of research has been devoted to analyzing how central banks communicate their policies to the general public and experts. Considering the increasing availability of comprehensive data sources and analytical techniques, the ways of analyzing central bank communication have evolved prolifically. This project is a modest contribution to the understanding of policymakers’ communication and a channel to cultivate my passion for economics and data science.
The project aims to analyze the speeches of European Central Bank (ECB) officials using text mining techniques and visualizations in Tableau Dashboards. For this project I use the publicly available speech dataset of the ECB.
Data source: European Central Bank. (25 October 2019). Speeches dataset. Retrieved from: www.ecb.europa.eu.
Dashboards
ECB Communication Dashboard: Basic Statistics
The dashboard provides basic statistics such total number of speeches per year, total number of speeches per month of the year, average length of speeches over years, and number of speeches at day of the month. Open in Tableau
ECB Communication Dashboard: Speakers
The dashboard examines the speakers addressing the general public and experts. Who held the most and the least speeches? Who talks the most and who is the most tersely? Open in Tableau
ECB Communication Dashboard: Relative Occurrence of Words
The dashboard enables to search ECB’s communication for certain words. Up to 15 words can be entered in the left column and the graph shows the relative occurrence of these words for each year. The relative occurrence is calculated as the quotient of the number of occurrences of the entered words over the total number of words in the corresponding year abstracting from stop words (i.e., words without meaning). Open in Tableau
Updates
2022/07/26 Publication of more dashboards
The ECB Communication Dashboard: Basic Statistics and the ECB Communication Dashboard: Speakers were published.
2022/07/25 Initial Publication
First version of ECB Communication Dashboard: Relative Occurrence of Words was published.
For bug reports, suggestions for other dashboards, and other comments, please contact me.
