This paper investigates the impact of ECB communication of its assessment of the economic outlook on ex-ante inflation … forecasts of inflation) but also makes forecasters less uncertain about their own beliefs, thus reducing ex-ante average … individual uncertainty. By combining and exploiting these types of ex-ante inflation uncertainty, results suggest that central …

Modern monetary policy focuses on credibility and shaping consumers' inflation expectations. According to the concept … of inflation forecast targeting (IFT), inflation forecasts play a crucial role in the instrument rate decision …-making process and may be a specific intermediate target. The aim of the study is to analyse the credibility of inflation forecasts …

This paper studies the causal effect of inflation literacy on inflation expectations and trust in the central bank …, we first test the effect of non-numerical information about inflation and monetary policy, the extitliteracy treatment … received the extitliteracy treatment, incorporate quantitative information differently into their inflation forecasts. We find …

underestimate the ECB's inflation forecasting accuracy. In particular, they believe that the ECB is overly optimistic. Communication … that challenges these perceptions improves the anchoring of inflation expectations, reduces inflation uncertainty and … discourages consumption of durable goods. Treated households also report higher trust in the ECB, perceive the ECB's inflation …

This paper studies the causal effect of inflation literacy on inflation expectations and trust in the central bank …, we first test the effect of non-numerical information about inflation and monetary policy, the literacy treatment. In the … the literacy treatment, incorporate quantitative information differently into their inflation forecasts. We find that the …