Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/269101 
Year of Publication: 
2022
Series/Report no.: 
ECB Working Paper No. 2694
Publisher: 
European Central Bank (ECB), Frankfurt a. M.
Abstract: 
Central banks are increasingly reaching out to the general public to motivate and explain their monetary policy actions. One major aim of this outreach is to guide inflation expectations; another is to ensure accountability and create trust. This article surveys a rapidly-growing literature on central bank communication with the public. We first discuss why and how such communication is more challenging than communicating with expert audiences. Then we survey the empirical evidence on the extent to which this new outreach does in fact affect inflation expectations and trust. On balance, we see some promise in the potential to inform the public better, but many challenges along the way.
Subjects: 
communication
central bank
general public
monetary policy
JEL: 
D12
D84
E52
E58
G53
Persistent Identifier of the first edition: 
ISBN: 
978-92-899-5278-1
Document Type: 
Working Paper

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