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Central Banks as Educators

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  • Carola Binder

Abstract

In recent years, central bankers’ speeches and other forms of communication have become pedagogical in nature, aiming to shape public knowledge, beliefs, expectations, and attitudes. With the shift toward expectations management as a monetary policy tool, central banks’ educational role has become a central component of their monetary policymaking, and central bank communication with the public has become a rapidly-growing area of research. I argue that this research is closely related, both thematically and methodologically, to the field of educational psychology. I discuss insights from educational psychology research that could guide central bank communication research—including insights about the challenges and pitfalls that both fields share.

Suggested Citation

  • Carola Binder, 2025. "Central Banks as Educators," NBER Working Papers 34002, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberwo:34002
    Note: ME
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    More about this item

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • E03 - Macroeconomics and Monetary Economics - - General - - - Behavioral Macroeconomics
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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