The German Public and its Trust in the ECB: The Role of Knowledge and Information Search
Edith Neuenkirch and
Bernd Hayo ()
VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association
In this paper, we analyse the effects of objective and subjective knowledge about monetary policy, as well as the information search patterns, of German citizens on trust in the ECB. We rely on a unique representative public opinion survey of German households conducted in 2011. We find that subjective and factual knowledge, as well as the desire to be informed, about the ECB foster citizens trust. Specific knowledge about the ECB is more influential than general monetary policy knowledge. Objective knowledge is more important than subjective knowledge. However, an increasing intensity of media usage, especially newspaper reading, has a significantly negative influence on trust. We conclude that the only viable way for the ECB to generate more trust in itself is to spread monetary policy knowledge.
JEL-codes: D83 E52 E58 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-eec, nep-knm, nep-mac and nep-mon
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Journal Article: The German public and its trust in the ECB: The role of knowledge and information search (2014)
Working Paper: The German Public and its Trust in the ECB: The Role of Knowledge and Information Search (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc14:100312
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