Public Attitudes towards Central Bank Independence: Lessons From the Foundation of the ECB

This study examines public opinion in 15 European countries, on the proposal to establish an independent European Central Bank (ECB). Using data from Euro- barometer surveys for 1998 to 2000, which included a speci c question on this issue, we show that in ation performance is not su cient to explain people's preference for an independent central bank: personal characteristics and circumstances have a stronger impact, with gender, employment status, education level, income quartiles, and degree of information and civic concern showing particular relevance.