Hedging in the discourse of central banks

Catherine Resche

Abstract


This paper examines the role and place of hedging in central bank discourse in order to determine to what extent a focus on classical hedges can yield an adequate analysis of the phenomenon. The research hypothesis is that, given the multiple risks at stake, a broader, more inclusive approach to hedging is called for than that adopted by many scholars. The paper brings evidence that beyond the quantitative aspects—between 4.7% and 5.8% of the words in the corpus are classical hedging devices—it is important to consider the qualitative and discursive dimension of hedging.

https://doi.org/10.1016/j.scoms.2014.12.008


Keywords


Central bank; Discourse; Hedging; Communication; Openness; Crisis

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Studies in Communication Sciences | ISSN: 1424-4896