Nie ma wersji polskiej
Sarah Mochhoury
- 28 October 2024
- ECONOMIC BULLETIN - ARTICLEEconomic Bulletin Issue 7, 2024Details
- Abstract
- The article examines how the ECB’s accountability practices have evolved during the ninth term of the European Parliament (2019-2024) and how these compare to previous parliamentary terms. It highlights innovations in the ECB’s accountability practices, including enhanced communication efforts and coverage of new initiatives, such as the digital euro project, which motivated extensive dialogue with the European Parliament. While focusing on central banking accountability in relation to monetary policy, it also outlines the accountability channels for ECB Banking Supervision. Overall, the article illustrates the fruitful joint efforts by the ECB and the European Parliament to effectively shape the accountability relationship and continue to enhance the dialogue between the two institutions.
- JEL Code
- E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies
- 5 June 2023
- WORKING PAPER SERIES - No. 2824Details
- Abstract
- While it has become clear that communication is a monetary policy tool for central banks, and extensive research has been conducted on central bank communication with financial markets, little is known so far on central bank communication with the general public. My research provides new insights into this field, confirming that the efforts of central banks to connect with a wider public are not in vain. In a randomised controlled trial, I focus on the determinants of trust in the European Central Bank (ECB) and on understanding of its communication about the Pandemic Emergency Purchase Programme, which was set up as part of the ECB’s response to the COVID-19 crisis. I find that the ECB’s simplified and relatable communication leads to greater trust in the central bank among the general public, as it has a positive impact on perceptions of the ECB among laypeople. The simplified content also proves to contribute to increased understanding of the central bank’s messages among the wider public.
- JEL Code
- C83 : Mathematical and Quantitative Methods→Data Collection and Data Estimation Methodology, Computer Programs→Survey Methods, Sampling Methods
C93 : Mathematical and Quantitative Methods→Design of Experiments→Field Experiments
D83 : Microeconomics→Information, Knowledge, and Uncertainty→Search, Learning, Information and Knowledge, Communication, Belief
E52 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Monetary Policy
E58 : Macroeconomics and Monetary Economics→Monetary Policy, Central Banking, and the Supply of Money and Credit→Central Banks and Their Policies