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The influence of media use on layperson monetary policy knowledge in Germany
Author(s) -
Hayo Bernd,
Neuenkirch Edith
Publication year - 2018
Publication title -
scottish journal of political economy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.4
H-Index - 46
eISSN - 1467-9485
pISSN - 0036-9292
DOI - 10.1111/sjpe.12141
Subject(s) - layperson , monetary policy , german , mass media , perception , economics , monetary economics , advertising , psychology , business , political science , law , archaeology , neuroscience , history
We analyse 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 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 (1) own perception of knowledge about the ECB and (2) actual level of knowledge. The media‐related influence varies with a person's level of education and is stronger for subjective knowledge. Women are significantly less interested in or knowledgeable about both topics.