Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/279387 
Year of Publication: 
2023
Series/Report no.: 
CESifo Working Paper No. 10636
Publisher: 
Center for Economic Studies and ifo Institute (CESifo), Munich
Abstract: 
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 level of trust in the ECB respondents report, but trust increases among respondents who report no preference for any political party. Within this group, the information about the actual development of the inflation rate, and not information about the inflation target itself, appears to be the main driving force.
Subjects: 
central bank trust
European Central Bank
central bank communication
monetary policy
Germany
household survey
RCT
JEL: 
E52
E58
Z10
Document Type: 
Working Paper
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