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

Journal of Macroeconomics, 2022, vol. 73, issue C

Abstract: We use a randomized controlled trial among Dutch households to analyze whether communication about ECB 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 one of the ECB’s policy instruments have inflation expectations closer to the ECB’s inflation target than individuals who only receive information about the ECB’s objective. Our results indicate that communication about ECB instruments does not impact 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: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (13)

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Working Paper: The impact of providing information about the ECB's instruments on inflation expectations and trust in the ECB. Experimental evidence (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jmacro:v:73:y:2022:i:c:s0164070422000295

DOI: 10.1016/j.jmacro.2022.103430

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