Preaching to the agnostic: Inflation reporting can increase trust in the central bank but only among people with weak priors

Preaching to the agnostic: Inflation reporting can increase trust in the central bank but only among people with weak priors

Using a randomized controlled trial, we study whether showing German respondents a graph plotting the European Central Bank’s inflation target alongside inflation in the euro area from 1999 to 2017 affects respondents’ trust in the ECB. The treatment has, on average, no significant effect on the lev...

Description complète

Enregistré dans:
Détails bibliographiques
Publié dans:MAGKS - Joint Discussion Paper Series in Economics (Band 45-2022)
Auteurs principaux: Hayo, Bernd, Méon, Pierre-Guillaume
Format: Article
Langue:anglais
Publié: Philipps-Universität Marburg 2022
Sujets:
European Central Bank
Wirtschaft
Monetary policy
Household survey
Central bank communication
RCT.
Central bank trust
Germany
Economics
Accès en ligne:Texte intégral en PDF
Tags: Ajouter un tag
Pas de tags, Soyez le premier à ajouter un tag!
Description
Résumé:Using a randomized controlled trial, we study whether showing German respondents a graph plotting the European Central Bank’s inflation target alongside inflation in the euro area from 1999 to 2017 affects respondents’ trust in the ECB. The treatment has, on average, no significant effect on the level of trust in the ECB respondents report, but trust increases among respondents who report no preference for any political party. Within this group, the information about the actual development of the inflation rate, and not information about the inflation target itself, appears to be the main driving force.
Description matérielle:49 Seiten
ISSN:1867-3678
DOI:10.17192/es2024.0752

Documents similaires