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Credibility and Transparency of Central Banks : New Results Based on Ifo's World Economic Survey
de Haan, Jakob; Waller, Sandra - 2021
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/10013319246
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Look who's talking : ECB communication during the first years of EMU
Jansen, David-Jan; Haan, Jakob de - 2004
This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that...
Persistent link: https://www.econbiz.de/10011450560
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Look Who's Talking : ECB Communication During the First Years of Emu
de Haan, Jakob; Jansen, David-Jan - 2021
This paper studies ECB and Bundesbank communication on monetary policy during the first years of the European Economic and Monetary Union. We study whether statements by different (groups of) central bankers have been contradictory and whether differences have diminished over time. We find that...
Persistent link: https://www.econbiz.de/10013319026
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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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Influencing public trust in central banks : identifying who is open to new information
Hayo, Bernd; Méon, Pierre-Guillaume - 2022
Using a randomized controlled trial in a 2018 survey of a representative sample of the German population, we study whether providing information about the European Central Bank's (ECB) inflation record in comparison to its inflation target affects people's trust in the central bank. In the...
Persistent link: https://www.econbiz.de/10013460042
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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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ECB vs Bundesbank : diverging tones and policy effectiveness
Tillmann, Peter; Walter, Andreas - 2018
The present paper studies the consequences of conflicting narratives for the transmission of monetary policy shocks. We focus on conflict between the presidents of the ECB and the Bundesbank, the main protagonists of monetary policy in the euro area, who often disagreed on policy over the past...
Persistent link: https://www.econbiz.de/10011858943
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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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Do Actions Speak Louder than Words? Evaluating Monetary Policy at the Bundesbank
Siklos, Pierre L.; Bohl, Martin T. - 2005
This paper proposes that an important instrument of monetary policy of the Bundesbank, is how it communicates with the public. We argue that communication by senior central bank officials represents an instrument of monetary policy that complements changes in interest rates. Moreover, the...
Persistent link: https://www.econbiz.de/10014061630
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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