Public attitudes towards central bank independence: Lessons from the foundation of the ECB

Hayat, Muhammad Azmat; Farvaque, Étienne

doi:10.1016/j.ejpoleco.2012.05.001

Cited by 6 publications

(2 citation statements)

References 42 publications

(39 reference statements)

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“…Journalists are expected to fulfil these needs (Hayo et al, 2008). Indeed, several studies have found a significant correlation between media use, and knowledge and understanding of the ECB's monetary policy (Hayat & Farvaque, 2012;van der Cruijsen et al, 2013).…”

Section: The Sociology Of Central Banking and Financial Journalismmentioning

confidence: 99%

Making monetary markets transparent: the European Central Bank's communication policy and its interactions with the media

Velthuis¹

2015

Economy and Society

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Section: The Sociology Of Central Banking and Financial Journalismmentioning

confidence: 99%

Making monetary markets transparent: the European Central Bank's communication policy and its interactions with the media

Velthuis¹

2015

Economy and Society

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“…Walstad and Rebeck (2002) claim that public viewpoints depend on economic knowledge, which in turn is affected by such factors as education, income, age, gender, race and political party affiliation. Maya and Rodrik (2005) studies attitude to protectionism and find that sociodemographic background, values, identities, attachments explain difference in attitude to trade (Hayat et al 2012). Hainmueller and Hiscox (2006) find that individuals with college-level education have positive attitude to trade openness rather than those without.…”

Section: Vol 1 2015mentioning

confidence: 99%

A Challenge of Trust: Can Distrust Kill the Euro?

Kostiuchenko¹

2015

BJES

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The purpose of the paper is to determine the dynamics of trust in the ECB in the most recent period, to compare the findings with a previous study of Farvaque et al. (2010) and to explore the question of importance of citizen's trust in public institution for the economic performance of the country. This paper is dedicated to the study of the determinants of trust in the European Central Bank. The study attempts to give an answer to a question posed in introduction: can distrust kill the euro? After the world economic crisis the trust in the ECB began to deteriorate. Citizen's trust in public institutions plays an important role for the economic performance of the country. Methology. We rely on the micro data from the European Commission's Eurobarometer survey. This paper contributes empirically to the existing literature dedicated to the issue of trust in public institutions. The responses in 15 EU-member countries were taken into account. The present work uses the model of Farvaque et al. (2010) extending the time frame considered previously, giving a broader picture on this issue using the most recent data. Results. In accordance with our findings, the population that support the ECB is approximately equal to the population that does not trust in the community bank, with a mean value of 0,51. Even if there are still more supporters of the ECB, this data should provide an alarm for the European institutional framework, in consideration that in 1999 (in accordance with Farvaque et al. (2010)) the mean value was 0,67. Practical implications. According to our findings, still people with higher level of education, people with a higher social status, people with center or right-wing political orientation, people with optimistic expectations on the economic situation have more trust in the ECB. However, we have found that women have become more supportive about the ECB than men in contrast with the findings of Farvaque et al. (2010). Value/originality. A matter of trust in public institutions represents a great interest for economic research. In the background of the global financial crisis, the trust in central banks has become extremely popular nowadays. Particularly, trust in the European Central Bank in the aftermath of the world economic crisis, concentrating on the period of 2012-2014, is examined.

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Ratings Methodology for Central Banks Worldwide

Ramlall

2022

Central Bank Ratings

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Public attitudes towards central bank independence: Lessons from the foundation of the ECB

Cited by 6 publications

References 42 publications

Making monetary markets transparent: the European Central Bank's communication policy and its interactions with the media

Making monetary markets transparent: the European Central Bank's communication policy and its interactions with the media

A Challenge of Trust: Can Distrust Kill the Euro?

Ratings Methodology for Central Banks Worldwide

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