What people believe about monetary finance and what we can(‘t) do about it: Evidence from a large-scale, multi-country survey experiment

Cars Hommes, Julien Pinter and Isabelle Salle ()
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Isabelle Salle: University of Ottawa, University of Amsterdam, Tinbergen Institute

No 2024.9, Working Papers from International Network for Economic Research - INFER

Abstract: We conduct an information-provision experiment within a large-scale household survey on public finance in France, The Netherlands and Italy. We elicit prior opinions via open-ended (OE) questions and introduce a measure of macroeconomic policy literacy. A central bank (CB) educational blogpost explaining the mechanics of CB money preceded by a short video clip on public finance can persistently induce less support for monetary-financed proposals, which induces more support for fiscal discipline and CB independence, no matter the respondents’ level of policy literacy. However, prior beliefs matter and contradictory information may be polarizing. Information is shown to affect views by shifting the respondents’ inflation and tax expectations associated to policy options.

Keywords: Large-scale household survey; information-provision experiment; RCT; central bank communication; expectations (search for similar items in EconPapers)
JEL-codes: E (search for similar items in EconPapers)
Pages: 45 pages
Date: 2024
New Economics Papers: this item is included in nep-exp, nep-inv and nep-mon
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Related works:
Working Paper: What People Believe About Monetary Finance and What We Can(’t) Do About It: Evidence from a Large-Scale, Multi-Country Survey Experiment (2023)
Working Paper: What People Believe about Monetary Finance and What We Can(‘t) Do about It: Evidence from a Large-Scale, Multi-Country Survey Experiment (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:inf:wpaper:2024.9

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