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The role of central bank knowledge and trust for the public's inflation expectations
Mellina, Sathya; Schmidt, Tobias - 2018
Since the financial crisis, central banks have stressed the role of trust and communication in connection with their objectives and strategies for aligning the public's inflation expectations with their own and, consequently, improving the effectiveness of monetary policy. Assessing how much the...
Persistent link: https://www.econbiz.de/10011897980
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Central bank credibility and inflation expectations : a microfounded forecasting approach
Issler, João Victor; Soares, Ana Flávia - In: Macroeconomic dynamics 27 (2023) 5, pp. 1268-1288
Persistent link: https://www.econbiz.de/10014306744
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The German public and its trust in the ECB : the role of knowledge and information search
Hayo, Bernd; Neuenkirch, Edith - 2013
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...
Persistent link: https://www.econbiz.de/10010196544
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The German public and its trust in the ECB : the role of knowledge and information search ; conference paper
Hayo, Bernd; Neuenkirch, Edith - 2013 - This version: 31 October 2013
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...
Persistent link: https://www.econbiz.de/10010482584
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Monetary policy announcements and expectations : evidence from German firms
Enders, Zeno; Hünnekes, Franziska; Müller, Gernot J. - 2019
We assess empirically whether monetary policy announcements impact firm expectations. Two features of our data set are key. First, we rely on a survey of production and price expectations of German firms, that is, expectations of actual price setters. Second, we observe the day on which firms...
Persistent link: https://www.econbiz.de/10012159806
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Credibility and transparency of Central Banks : new results based on Ifo s world economicy survey
Hamella, Sandra; Haan, Jakob de - 2004
This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …
Persistent link: https://www.econbiz.de/10011399168
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Preaching to the agnostic : inflation reporting can increase trust in the Central Bank but only among people with weak priors
Hayo, Bernd; Méon, Pierre-Guillaume - 2023
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...
Persistent link: https://www.econbiz.de/10014338856
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Would the Bundesbank have prevented the Great Inflation in the United States?
Benati, Luca - 2009
Policy counterfactuals based on estimated structural VARs routinely suggest that bringing Alan Greenspan back in the 1970s' United States would not have prevented the Great Inflation. We show that a standard policy counterfactual suggests that the Bundesbank - which is near-universally credited...
Persistent link: https://www.econbiz.de/10003969295
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The influence of media use on laymen's monetary policy knowledge in Germany
Hayo, Bernd; Neuenkirch, Edith - 2015 - This version: 20 April 2015
We analyse German citizens' knowledge about monetary policy and the European Central Bank (ECB), as well as the public's use of mass communication media to obtain information about the ECB. We employ a unique representative public opinion survey of German households conducted in 2011. We find...
Persistent link: https://www.econbiz.de/10010508550
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Investigating the monetary policy of central banks with assessment indicators
Bluhm, Marcel - 2011
This paper outlines a new method for using qualitative information to analyze the monetary policy strategy of central banks. Quantitative assessment indicators that are extracted from a central bank's public statements via the balance statistic approach are employed to estimate a Taylor-type...
Persistent link: https://www.econbiz.de/10009295533