What determines the credibility of the central bank of israel in the public eye?

Publications

Zeev Kril, David Leiser, Avia Spivak

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2016

In line with the rational expectations’ approach, economists emphasize transparency as a key factor for Central Banks’ credibility. In this paper, a psychological approach yields different results: trust in the Banks’ policy is associated with the professionalism and independence of the Bank and not with its transparency.

It is a subtle difference: transparency is indeed a positive factor in the overall perception of the Bank as trustworthy, but a statistical analysis shows that not all aspects of perception are relevant to trust in the Bank’s credibility in its inflationary policy.

International Journal of Central Banking

https://www.ijcb.org/journal/ijcb16q1a3.htm

Read the article

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