Afgekort: MPU, MPU-index.
Een MPU-index biedt inzicht in de onzekerheid over monetair beleid. Deze indices worden doorgaans samengesteld door de frequentie te meten van het gebruik van bepaalde termen ('keywords') in de media met betrekking tot de economie, beleidskwesties en onzekerheid.
Voorbeeld
'Our approach to constructing the MPU index is to track the frequency of newspaper articlesrelated to monetary policy uncertainty. Using the ProQuest Newsstand and historical archives, we construct the index by searching for keywords related to monetary policy uncertainty in majornewspapers. We search for articles containing the triple of (i) “uncertainty” or “uncertain,” (ii)“monetary policy(ies)” or “interest rate(s)” or “Federal fund(s) rate” or “Fed fund(s) rate,” and(iii) “Federal Reserve” or “the Fed” or “Federal Open Market Committee” or “FOMC”. We do this for every day’s issue of the Washington Post, Wall Street Journal, and New York Times. Importantly, we control for the changing volume of total news articles over time and the possibility that some newspapers naturally cover monetary policy more than others by firstdividing the raw count of identified articles by the total number of news articles mentioning“Federal Reserve”, or more precisely, any of the words in category (iii), for each newspaper ina given period.'
Bron: Husted, Lucas, John Rogers, and Bo Sun (2017). Monetary Policy Uncertainty. International Finance Discussion Papers 1215.
Zie ook: centrale bank, monetair beleid, onzekerheid.
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