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How Much Does the Public Know about the ECB’s Monetary Policy? Evidence from a Survey of Dutch Households

Carin Cruijsen, David-Jan Jansen and Jakob de Haan ()

International Journal of Central Banking, 2015, vol. 11, issue 4, 169-218

Abstract: Does the general public know what central banks do? Is this knowledge relevant? Based on a survey of Dutch households, we find that knowledge about the European Central Bank’s objectives is far from perfect. A weak desire to be informed and unawareness among respondents about their limited knowledge are barriers for improving general understanding of monetary policy. However, our results also show that more intensive use of information improves respondents’ understanding of the ECB, suggesting that communication may improve general knowledge. Finally, we find that knowledge about monetary policy objectives contributes to an individual’s ability to form inflation expectations.

JEL-codes: D12 D84 E52 E58 (search for similar items in EconPapers)
Date: 2015
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Related works:
Working Paper: How much does the public know about the ECB's monetary policy? Evidence from a survey of Duch households (2010) Downloads
Working Paper: How much does the public know about the ECB's monetary policy? Evidence from a survey of Dutch households (2010) Downloads
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