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  5. Central Bank Communications and the General Public

AEA Papers and Proceedings

ISSN 2574-0768 (Print) | ISSN 2574-0776 (Online)

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Central Bank Communications and the General Public

  • Andrew Haldane
  • Michael McMahon
AEA Papers and Proceedings
vol. 108, May 2018
(pp. 578–83)
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Abstract

Despite the recent revolution in central bank communication, it is unclear the general public have benefitted from these enhanced central bank communications. We first analyze the growth of communication and some reasons that the public may have missed the revolution. We then discuss the desirability of greater communication with the public. The case for feasibility of such communication examines observational and experimental evidence following the recently adopted use of a layered communication at the Bank of England. We find that, while more research is needed, there are compelling reasons for central banks to continue trying to target communication at the public.

Citation

Haldane, Andrew, and Michael McMahon. 2018. "Central Bank Communications and the General Public." AEA Papers and Proceedings, 108: 578–83. DOI: 10.1257/pandp.20181082

Additional Materials

JEL Classification

  • E31 Price Level; Inflation; Deflation
  • E43 Interest Rates: Determination, Term Structure, and Effects
  • E52 Monetary Policy
  • E58 Central Banks and Their Policies