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The influence of media use on laymen s monetary policy knowledge in Germany

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  • Neuenkirch, Edith
  • Hayo, Bernd

Abstract

We analyse the German citizens knowledge about monetary policy and the European Central Bank (ECB), as well as the public s use of mass communication media to obtain information about the ECB. We employ a unique representative public opinion survey of German households conducted in 2011. We find that a person s own desire to be informed about the ECB together with the use of various media channels to keep informed are decisive for both (i) the own perception of knowledge about the ECB and (ii) the actual level of knowledge. The media-related influence differs with a person s level of education and is stronger for subjective knowledge. Women are less interested and knowledgeable. We conclude that the ECB is well advised to continue its education programmes to convince the public of the importance of monetary policy literacy.

Suggested Citation

  • Neuenkirch, Edith & Hayo, Bernd, 2015. "The influence of media use on laymen s monetary policy knowledge in Germany," VfS Annual Conference 2015 (Muenster): Economic Development - Theory and Policy 113218, Verein für Socialpolitik / German Economic Association.
    • Handle: RePEc:zbw:vfsc15:113218
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    Cited by:

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    2. David-Jan Jansen & Matthias Neuenkirch, 2017. "News Consumption, Political Preferences, and Accurate Views on Inflation," Research Papers in Economics 2017-03, University of Trier, Department of Economics.
    3. Trésor Carsi Kuhangana & Caleb Kamanda Mbayo & Joseph Pyana Kitenge & Arlène Kazadi Ngoy & Taty Muta Musambo & Paul Musa Obadia & Patrick D.M.C. Katoto & Célestin Banza Lubaba Nkulu & Benoit Nemery, 2020. "COVID-19 Pandemic: Knowledge and Attitudes in Public Markets in the Former Katanga Province of the Democratic Republic of Congo," IJERPH, MDPI, vol. 17(20), pages 1-16, October.

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    JEL classification:

    • A20 - General Economics and Teaching - - Economic Education and Teaching of Economics - - - General
    • 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

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