Preaching to the agnostic: Inflation reporting can increase trust in the central bank but only among people with weak priors
通过调查实验,研究向德国受访者展示欧洲央行通胀目标与实际通胀走势图对其信任度的影响,发现仅对无党派偏好等先验信念较弱者有效,且实际通胀路径信息是主要驱动因素。
Using a survey experiment, we study whether showing German respondents a graph representing the European Central Bank’s inflation target alongside euro area inflation from 1999 to 2017 affects respondents’ trust in the ECB. On average, the treatment has no significant effect. However, it does increase trust in the ECB among respondents with no entrenched views, proxied by those who report no preference for any political party. Within this group, information about the actual path of the inflation rate, rather than information about the inflation target itself, appears to be the main driver of the treatment’s effect.