Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/93506
Authors: 
Hayo, Bernd
Neuenkirch, Edith
Year of Publication: 
2013
Series/Report no.: 
Joint Discussion Paper Series in Economics 47-2013
Abstract: 
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 subjective and factual knowledge, as well as the desire to be informed, about the ECB foster citizens' trust. Specific knowledge about the ECB is more influential than general monetary policy knowledge. Objective knowledge is more important than subjective knowledge. However, an increasing intensity of media usage, especially newspaper reading, has a significantly negative influence on trust. We conclude that the only viable way for the ECB to generate more trust in itself is to spread monetary policy knowledge.
Subjects: 
ECB
Economic knowledge
German public attitudes
Institutional trust
JEL: 
D83
E52
E58
Document Type: 
Working Paper

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