Framing inflation at the ECB : an analysis of European Central Bank press conferences

Details

Supervisors

Fontan, Clément

Faculty

Faculté des sciences économiques, sociales, politiques et de communication

Degree label

Master [120] en études européennes, à finalité spécialisée: gouvernance et sociétés européennes

Abstract

This thesis examines how the European Central Bank (ECB) makes use of its press conferences, specifically the 'Questions & Answers' portion, to construct a framing of inflation. Resting on the abundant literature on the importance of communication in monetary policy and central banking, the thesis expands on questions concerning how the ECB manages challenges to its expertise by journalists. Specifically, elements of organizational sociology and 'ignorance studies' are used to interpret the responses of three ECB Presidents to direct challenges in the context of press conference Q&As, allowing for a frame analysis of the strategic uses of ignorance and the evolution of the inflation-frames during the extent of three different inflation cycles. The thesis, therefore, attempts to explore the intersection of ECB press conferences, the central bank's attempts to guide the public's understanding of inflation, and its defense of its own credibility and independence.