Níl an t-ábhar seo ar fáil i nGaeilge.

Klodiana Istrefi

Research

Division: Monetary Policy Research
Current Position: Senior Economist
Fields of interest: Macroeconomics and Monetary Economics,International Economics
Email: klodiana.istrefi@ecb.europa.eu

Biography

Other current responsibilities: 2023-
Associate Editor, International Journal of Central Banking; 2021-
Research Affiliate, Centre for Economic Policy Research; 2019-
Lecturer, Paris School of Economics
Education: 2018
M.Sc. on Economics and Psychology, Paris 1 Pantheon Sorbonne, France; 2016
Ph.D. in Economics, Goethe University Frankfurt, Germany; 2006
M.Sc. on European Economic Studies, Bamberg University & University of Tirana, Albania
Professional experience: 2014-2022
(Senior) Economist, Monetary Policy Research, Banque de France; 2014
Researcher, Center of Excellence SAFE, Frankfurt; 2001-2008
(Senior) Economist, Monetary Policy and Research Department, Bank of Albania
Teaching experience: 2022
Big Data and Central Bank Communication - International Banking and Finance Institute, France; 2022
Macroconomic Analysis and Policymakers - Paris School of Economics, France; 2019-2021
Short-term Economic Analysis - Paris School of Economics, France; 2018-2019
Time Series Forecasting and Data Quality - Center of Excellence in Finance, Slovenia; 2018-2019
Unconventional Monetary Policies - International Banking and Finance Institute, France; 2016
Introduction in Microeconomics - Paris College of Arts, France; 2002-2007
Introduction in Economics & Macroeconomics 1 - Economic Faculty, University of Tirana, Albania

ECB publications

21 September 2021

OCCASIONAL PAPER SERIES - No. 274

Clear, consistent and engaging: ECB monetary policy communication in a changing world

English

Abstract: This paper examines the importance of central bank communication in ensuring the effectiveness of monetary policy and in underpinning the credibility, accountability and legitimacy of independent central banks. It documents how communication has become a monetary policy tool in itself; one example of this being forward guidance, given its impact on inflation expectations, economic behaviour and inflation. The paper explains why and how consistent, clear and effective communication to expert and non-expert audiences is essential in an environment of an ever-increasing need by central banks to reach these audiences. Central banks must also meet the demand for more understandable information about policies and tools, while at the same time overcoming the challenge posed by the wider public’s rational inattention. Since the European Central Bank was established, the communications landscape has changed dramatically and continues to evolve. This paper outlines how better communication, including greater engagement with the wider public, could help boost people’s understanding of and trust in the Eurosystem.
JEL Code: E43 : Macroeconomics and Monetary Economics→Money and Interest Rates→Interest Rates: Determination, Term Structure, and Effects
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies

External publications

2023

Journal of Forecasting

Forecasting Sovereign Risk in the Euro Area via Machine Learning