Aris Zoleta
Monetary Policy Stance (MPS) Index
The MPS Index is constructed by extracting latent features from Federal Reserve press statements and speeches to produce a time series that reflects the hawkish or dovish tone of Fed communication. The index is generated using a large language model (LLM) specifically trained on central bank communication. For further details, you may refer to the working paper
A Natural Language Processing (NLP) Approach in Extracting Monetary Policy Stance: Emerging Market Spillover from Federal Reserve Communication
