摘要：In the aftermath of the euro cash changeover consumers’ inflation perceptions rose
substantially in the euro area countries while actual inflation figures remained almost
unchanged. During that period media reporting on the potentially large inflationary
effect of the euro introduction intensified. In this paper we argue that the informa-
tion set of the public has been distorted through the significant slant in the media.
Employing an unique dataset for Germany, we provide evidence that media report-
ing has a statistically significant and economically meaningful impact on inflation
perceptions and contributed to their sharp rise in the aftermath of the euro cash
changeover.
关键词：Monetary policy, inflation perceptions, media coverage, media bias
