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Trust in the Central Bank and Inflation Expectation
Christelis, Dimitris - 2020
Using micro data from the 2015 Dutch CentERpanel, we examine whether trust in the European Central Bank (ECB … find that higher trust in the ECB lowers inflation expectations on average, and significantly reduces uncertainty about …
Persistent link: https://www.econbiz.de/10012841204
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Instinctive Versus Reflective Trust in the European Central Bank
Angino, Siria; Secola, Stefania - 2022
Political science research has established that trust in institutions, including central banks, is shaped by socio … culture. However, the role of cognitive processes has largely been neglected, especially in the analysis of central bank trust … concepts of “instinctive trust”, which captures an on-the-spot judgement on the institution’s trustworthiness, and of …
Persistent link: https://www.econbiz.de/10013290093
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Inflation and Inflation Uncertainty in the Euro Area
Caporale, Guglielmo Maria - 2010
This paper estimates a time-varying AR-GARCH model of inflation producing measures of inflation uncertainty for the euro area, and investigates their linkages in a VAR framework, also allowing for the possible impact of the policy regime change associated with the start of EMU in 1999. The main...
Persistent link: https://www.econbiz.de/10013141028
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Central Bank Macroeconomic Forecasting During the Global Financial Crisis : The European Central Bank and Federal Reserve Bank of New York Experiences
Alessi, Lucia - 2014
This paper documents macroeconomic forecasting during the global financial crisis by two key central banks: the European Central Bank and the Federal Reserve Bank of New York. The paper is the result of a collaborative effort between staff at the two institutions, allowing us to study the...
Persistent link: https://www.econbiz.de/10013053416
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Corporate Loans, Banks’ Internal Risk Estimates and Central Bank Collateral : Evidence from the Euro Area
Calza, Alessandro; Hey, Julius-Benjamin; Parrini, Alessandro - 2021
We use a unique dataset of ratings for euro area corporate loans from commercial banks’ internal rating-based (IRBs) systems and central banks’ in-house credit assessment systems (ICASs) to investigate whether banks’ IRB ratings underestimate the credit risk of their corporate loan...
Persistent link: https://www.econbiz.de/10013217542
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Can Central Bank Communication Help to Stabilise Inflation Expectations?
Jung, Alexander; Kühl, Patrick - 2021
This paper examines whether central bank communication stabilises euro area inflation expectations through the information and news channel. A novelty of the study is its use of data from Google Analytics on ECB website traffic as proxy for visitors’ attention to its communication. We conduct...
Persistent link: https://www.econbiz.de/10013227730
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The Long-Term Distribution of Expected Inflation in the Euro Area : What has Changed Since the Great Recession?
Dovern, Jonas - 2017
This paper analyses the distribution of long-term inflation expectations in the euro area using individual density forecasts from the ECB Survey of Professional Forecasters. We exploit the panel dimension in this dataset to examine whether this distribution became less stable following the Great...
Persistent link: https://www.econbiz.de/10012963929
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Forecasting Euro Area Inflation Using Targeted Predictors : Is Money Coming Back?
Falagiarda, Matteo - 2017
This paper sheds new light on the information content of monetary and credit aggregates for future price developments in the euro area. Overall, we find strong variation in the information content of these variables over time. We show that monetary and credit aggregates are very often selected...
Persistent link: https://www.econbiz.de/10012963628
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Explaining EU Citizens’ Trust in the ECB in Normal and Crisis Times
Ehrmann, Michael - 2013
We study the determinants of trust in the ECB as measured by the European Commission's Eurobarometer survey. The … formulation of the corresponding question in this survey is very general, and compatible with very different notions of "trust" by … respondents. In particular, the survey does not ask whether respondents trust that the ECB delivers on its mandate. Still, the ECB …
Persistent link: https://www.econbiz.de/10013089459
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Central Bank Communication and Trust : An Experimental Study on the European Central Bank and the General Public
Mochhoury, Sarah - 2023
connect with a wider public are not in vain. In a randomised controlled trial, I focus on the determinants of trust in the … communication leads to greater trust in the central bank among the general public, as it has a positive impact on perceptions of the …
Persistent link: https://www.econbiz.de/10014354162