Template-type: ReDIF-Paper 1.0
Author-Name: Adriel Jost
Author-Name-First: Adriel
Author-Name-Last: Jost
Author-Person: pjo304
Title: Is Monetary Policy Too Complex for the Public? Evidence from the UK
Abstract: Central banks have increased their engagement in the information and education of the broad public. But what can be said about the nonprofessional’s knowledge of monetary policy and central banking? Based on the Bank of England’s Inflation Attitudes Survey, I construct a score to capture the central banking knowledge of the respondents. I show that the average British person displays limited knowledge of central banking. At the same time, the data reveal that satisfaction with the Bank of England’s policies increases with a better understanding of monetary policy.
Length: 49 pages
Creation-Date: 2017
Contact-Email: forschung@snb.ch
File-URL: https://www.snb.ch/en/publications/research/working-papers/2017/working_paper_2017_15
File-Format: text/html
Number: 2017-15
Classification-JEL: D83, E52, E58, I21
Keywords: Economic literacy, Monetary policy, Bank of England
Handle: RePEc:snb:snbwpa:2017-15