The ECB’s Climate Activities and Public Trust

Sandra Eickmeier and Luba Petersen

No 33103, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: As central banks, including the European Central Bank (ECB), adopt climate-related responsibilities, gauging public support becomes essential. Drawing on a June 2023 Bundesbank household survey, we find that 69% of households report increased trust in the ECB due to its climate actions, valuing the institution's broader scope and concern. While 17% and 20% of households express concerns over risks to price stability or independence, 23% believe climate engagement reinforces the ECB's core objectives. An information intervention indicates minimal impact on household inflation expectations, suggesting a disconnect between institutional trust and inflation outlooks. An internal survey reveals that central bankers accurately gauge trust impacts but tend to overestimate effects on inflation expectations. Overall, our findings indicate broad public support for the ECB’s climate initiatives.

JEL-codes: C93 D84 E59 E7 (search for similar items in EconPapers)
Date: 2024-11
New Economics Papers: this item is included in nep-ban, nep-eec, nep-env, nep-mon and nep-soc
Note: ME
References: Add references at CitEc
Citations:

Downloads: (external link)
http://www.nber.org/papers/w33103.pdf (application/pdf)
Access to the full text is generally limited to series subscribers, however if the top level domain of the client browser is in a developing country or transition economy free access is provided. More information about subscriptions and free access is available at http://www.nber.org/wwphelp.html. Free access is also available to older working papers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nbr:nberwo:33103

Ordering information: This working paper can be ordered from
http://www.nber.org/papers/w33103
The price is Paper copy available by mail.

Access Statistics for this paper

More papers in NBER Working Papers from National Bureau of Economic Research, Inc National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.. Contact information at EDIRC.
Bibliographic data for series maintained by ().