The Role of Media in Central Bank Communication

Last registered on November 19, 2024
View Trial History

Pre-Trial

Trial Information

General Information

Title
The Role of Media in Central Bank Communication
RCT ID
AEARCTR-0014824
Initial registration date
November 19, 2024

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
November 19, 2024, 4:45 PM EST

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

Country
Brazil
Region

Primary Investigator

Name
João Pedro Nogueira
Affiliation
Contact Primary Investigator

Other Primary Investigator(s)

Additional Trial Information

Status
On going
Start date
2024-11-13
End date
2024-12-20
Keywords
Behavior, Finance & Microfinance
Additional Keywords
JEL code(s)
Secondary IDs
Prior work
This trial does not extend or rely on any prior RCTs.
Abstract
Over the past decades central banks around the world have become increasingly likely to communicate their policy decisions and the rationale that led to them. Traditionally, this communication is aimed at select groups of experts. However, communicating with the general public is of no lesser importance.

One issue facing central banks that want to communicate with the public is that the public rarely engages with the central banks directly. Instead, the public is more likely to receive news about the economy through the media. The aim of this research is to investigate how the public's inflation expectations and trust in the central bank is impacted by media reporting vis-a-vis direct communication from the central banks.
External Link(s)

Registration Citation

Citation
Nogueira, João Pedro. 2024. "The Role of Media in Central Bank Communication." AEA RCT Registry. November 19. https://doi.org/10.1257/rct.14824-1.0
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention (Hidden)
Intervention Start Date
2024-11-13
Intervention End Date
2024-12-20

Primary Outcomes

Primary Outcomes (end points)
12-month-ahead inflation expectations
Self-reported confidence in the central bank
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Participants will be asked about their expectations for 12-month-ahead inflation as well as about their trust in the central bank. Then, they'll be randomly assigned to one of 2 treatment groups.

Following this treatment, participants are once again asked about their 12-month-ahead inflation expectations and their trust in the central bank.
Experimental Design Details
Randomization Method
Randomization done by computer.
Randomization Unit
Individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
0
Sample size: planned number of observations
300+ individuals
Sample size (or number of clusters) by treatment arms
100+ individuals per treatment group
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
IRB Approval Date
IRB Approval Number
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
Data Collection Complete
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials