Arbeitspapier

Trust in the central bank and inflation expectation

zu Verbundenen Objekten

Using micro data from the 2015 Dutch CentERpanel, we examine whether trust in the European Central Bank (ECB) influences individuals' expectations and uncertainty about future inflation, and whether it anchors inflation expectations. We find that higher trust in the ECB lowers inflation expectations on average, and significantly reduces uncertainty about future inflation. Moreover, results from quantile regressions suggest that trusting the ECB increases (lowers) inflation expectations when the latter are below (above) the ECB's inflation target. These findings hold after controlling for people's knowledge about the objectives of the ECB.

ISBN
978-92-899-4018-4
Sprache
Englisch

Erschienen in
Series: ECB Working Paper ; No. 2375

Klassifikation
Wirtschaft
Consumer Economics: Empirical Analysis
Criteria for Decision-Making under Risk and Uncertainty
Money and Interest Rates: General
Central Banks and Their Policies
Thema
Consumer expectations
inflation uncertainty
anchoring
trust in the ECB

Ereignis
Geistige Schöpfung
(wer)
Christelis, Dimitris
Georgarakos, Dimitris
Jappelli, Tullio
van Rooij, Maarten
Ereignis
Veröffentlichung
(wer)
European Central Bank (ECB)
(wo)
Frankfurt a. M.
(wann)
2020

DOI
doi:10.2866/933627
Handle
Letzte Aktualisierung
10.03.2025, 11:41 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Original beim Datenpartner anzeigen

Objekttyp

  • Arbeitspapier

Beteiligte

  • Christelis, Dimitris
  • Georgarakos, Dimitris
  • Jappelli, Tullio
  • van Rooij, Maarten
  • European Central Bank (ECB)

Entstanden

  • 2020

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