Can the conservative central banker be a woman?

Cristina Bodea and Andrew Kerner

Chapter 4 in Are Central Banks Still Conservative?, 2025, pp 96-114 from Edward Elgar Publishing

Abstract: Political economy models of monetary policy typically ignore the central banker's gender as a determinant of public expectations about the economy. However, effective central banking requires commitments to inflation aversion that are often male-coded. This may undermine female central bankers, especially when they address audiences unfamiliar with the personal and institutional features commonly thought to render assertions of inflation aversion credible. We evaluate the extent of gender bias using three survey experiments conducted in the United States, Japan, and Europe during the COVID-19 crisis. The findings suggest significant bias, particularly among American and Japanese men. Messaging associated with female central bankers was less able to influence men's concern for future inflation.

Keywords: Gender; Inflation; Central Banking; Survey experiment (search for similar items in EconPapers)
Date: 2025
ISBN: 9781035337569
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