The impact of providing information about the ECB's instruments on inflation expectations and trust in the ECB. Experimental evidence

Nils Brouwer and Jakob de Haan

Working Papers from DNB

Abstract: We use a random controlled trial among Dutch households to analyze whether communication about monetary policy instruments impacts inflation expectations and trust in the ECB. All participants in the survey receive information about the ECB's goal, but only a subset also receives information about how the ECB tries to achieve this. Our results suggest that individuals who are informed about policy instruments have inflation expectations closer to the ECB's target inflation than individuals who only receive information about the ECB's objective. Our evidence also indicates that communication about the ECB's instruments does not impact average trust in the ECB.

Keywords: central bank; communication; general public; trust; RCT (search for similar items in EconPapers)
JEL-codes: D12 D84 E52 E58 (search for similar items in EconPapers)
Date: 2021-03
New Economics Papers: this item is included in nep-cba, nep-exp, nep-mon and nep-soc
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (11)

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Journal Article: The impact of providing information about the ECB’s instruments on inflation expectations and trust in the ECB: Experimental evidence (2022)
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Persistent link: https://EconPapers.repec.org/RePEc:dnb:dnbwpp:707

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