Measuring Uncertainty in European Central Bank Monetary Policy Communication

The dataset contains the processed data underlying the Euro Area Communication Uncertainty Index (EA-CUI), its three components (Core Uncertainty, Risk Assessment and Macro-Financial Stress), the uncertainty dictionary, and the European Economic Policy Uncertainty (EPU) data used for comparison. The repository also includes the replication code and the figures reported in the article.

The EA-CUI is constructed from European Central Bank (ECB) Governing Council introductory statements covering January 2000 to July 2026.