Teach people monetary policy to anchor expectations – ECB paper
Experiment run at ECB visitor centre finds strong impact from education
Citizens’ inflation expectations could be improved by direct central bank communication, a new paper from the European Central Bank argues.
Alexander Jung and Francesco Paolo Mongelli invited around 5,000 people attending the ECB’s visitor centre between 2022 and 2025 to participate in the study. The aim was to see the effects of how “direct communication, similar to press conferences, shapes non-experts’ inflation expectations”.
Study participants – primarily younger, financially educated
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