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Preaching to the agnostic: Inflation reporting can increase trust in the central bank but only among people with weak priors

Bernd Hayo and Pierre-Guillaume Méon ()
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Pierre-Guillaume Méon: Université libre de Bruxelles (U.L.B.)

Authors registered in the RePEc Author Service: Pierre-Guillaume Méon

MAGKS Papers on Economics from Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung)

Abstract: Using a randomized controlled trial, we study whether showing German respondents a graph plotting the European Central Bank’s inflation target alongside inflation in the euro area from 1999 to 2017 affects respondents’ trust in the ECB. The treatment has, on average, no significant effect on the level of trust in the ECB respondents report, but trust increases among respondents who report no preference for any political party. Within this group, the information about the actual development of the inflation rate, and not information about the inflation target itself, appears to be the main driving force.

Keywords: Central bank trust; European Central Bank; Central bank communication; Monetary policy; Germany; Household survey; RCT. (search for similar items in EconPapers)
JEL-codes: E52 E58 Z1 (search for similar items in EconPapers)
Pages: 49 pages
Date: 2022
New Economics Papers: this item is included in nep-ban, nep-cba, nep-exp, nep-mon and nep-soc
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Citations: View citations in EconPapers (2)

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https://www.uni-marburg.de/en/fb02/research-groups ... ers/45-2022_hayo.pdf First 202245 (application/pdf)

Related works:
Journal Article: Preaching to the agnostic: Inflation reporting can increase trust in the central bank but only among people with weak priors (2024) Downloads
Working Paper: Preaching to the Agnostic: Inflation Reporting Can Increase Trust in the Central Bank but Only among People with Weak Priors (2023) Downloads
Working Paper: Preaching to the agnostic: Inflation reporting can increase trust in the central bank but only among people with weak priors (2023) Downloads
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