This paper shows that simplifying communications can lead to better understanding of information contained in the BoE’s Inflation Reports. The study was conducted in collaboration with the Behavioural Insights Team where I was seconded.

Download paper here

The working paper version (2018) is available from in the Bank of England’s WP series. This version contains only one experiment.

We published blog posts describing the results on the Bank Underground blog and BIT’s page.

This study was very well received and had large policy impact. We were cited by Mark Carney in his 2019 Sintra speech.

BibTeX citation:

  title={Enhancing central bank communications using simple and relatable information},
  author={Bholat, David and Broughton, Nida and Ter Meer, Janna and Walczak, Eryk},
  journal={Journal of Monetary Economics},
  doi = {10.1016/j.jmoneco.2019.08.007},