Measurement of Clarity of Financial Stability Reports
| Author: | Mgr. Vojtěch Mišák |
|---|---|
| Year: | 2019 - summer |
| Leaders: | prof. Roman Horváth Ph.D. |
| Consultants: | |
| Work type: | Finance, Financial Markets and Banking Masters |
| Language: | English |
| Pages: | 98 |
| Awards and prizes: | |
| Link: | |
| Abstract: | The topic of this diploma thesis is to measure and investigate the clarity of Financial stability reports from 27 European central banks. Using unbalanced panel data from 2004 to 2017 we found out variables that determine the level of clarity of Financial stability reports. Clarity indices are calculated by Flesch-Kincaid readability tests. Based on our results, we claim that the clarity of the Financial stability report is affected by the level of independence of the central bank and by non-housing macroprudential policy index. Furthermore, the clarity of Financial stability reports changes among years and especially during the financial crisis. According to spatial models, the distance between central banks really matters in the terms of the clarity of Financial stability reports. |
