Measurement of Clarity of Financial Stability Reports
|Author:||Mgr. Vojtěch Mišák|
|Year:||2019 - summer|
|Leaders:|| prof. Roman Horváth Ph.D.
|Work type:|| Finance, Financial Markets and Banking
|Awards and prizes:|
|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.