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Filippo Arigoni

International & European Relations

Division

External Developments

Current Position

Economist

Fields of interest

Macroeconomics and Monetary Economics,International Economics

Email

filippo.arigoni@ecb.europa.eu

Education
2015-2019

PhD in Economics, University of Padova

2018-2019

Advanced Study Program in International Economic Policy Research, Kiel Institut für Weltwirtschaft

2013-2015

MSc in Economics and Finance, University of Padova

2010-2013

BSc in Economics and Business Administration, University of Pisa

Professional experience
2024-

Economist - External Developments Division, Directorate General International & European Relations, European Central Bank

2022-2024

Economist - Macroprudential Analysis Team, Macro-Financial Division, Central Bank of Ireland

2019-2022

Research Economist - Monetary Policy and Research Unit, Analysis and Research Division, Banka Slovenije

21 September 2021
OCCASIONAL PAPER SERIES - No. 274
Clear, consistent and engaging: ECB monetary policy communication in a changing world
Work stream on monetary policy communications
English
Details
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
2023
Bank of Slovenia Working Papers 2/2023, SUERF Policy Brief 631/July 2023
Impact of fiscal measures in response to the Covid-19 pandemic on small open economies: lessons from Slovenia
  • Arigoni, F., Breznikar, M., Lenarčič, Č. and Maletič, M.
2023
Central Bank of Ireland - Research Technical Papers 7/2023, SUERF Policy Brief 742/November 2023.
Foreign economic policy policy uncertainty shocks and real activity in the Euro Area
  • Arigoni, F. and Lenarčič, Č.
2022
Central Bank of Ireland - Financial Stability Notes 12/2022
Rising construction costs and the residential real estate market in Ireland
  • Arigoni, F., Kennedy, G. and Killeen, N.
2022
Central Bank of Ireland - Financial Stability Notes 11/2022
Mortgage credit and house prices: evidence to inform macroprudential policy
  • Arigoni, F., McCann, F. and Yao, F.
2020
Bank of Slovenia Working Papers 5/2020
World shocks and commodity price fluctuations: evidence from resource-rich economies
  • Arigoni, F.