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Central Bank Communication with the General Public : Promise or False Hope?

Blinder, Alan S.; Ehrmann, Michael; Haan, Jakob de; … - National Bureau of Economic Research - 2022

Central banks are increasingly reaching out to the general public to motivate and explain their monetary policy actions. One major aim of this outreach is to guide inflation expectations; another is to ensure accountability and create trust. This article surveys a rapidly-growing literature on...

Persistent link: https://www.econbiz.de/10013334494

The Last Mile of Monetary Policy : Inattention, Reminders, and the Refinancing Channel

Byrne, Shane; Devine, Kenneth; King, Michael; McCarthy, … - National Bureau of Economic Research - 2023

Under-refinancing limits the transmission of accommodative monetary policy to the household sector and costs mortgage …-effectiveness calculation implies that the average reminder letter generated €42 of mortgagor consumption (€605 per refinancing household). Our …

Persistent link: https://www.econbiz.de/10014247964

Households' Response to the Wealth Effects of Inflation

Schnorpfeil, Philip; Weber, Michael; Hackethal, Andreas - National Bureau of Economic Research - 2023

We study the redistributive effects of inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth; yet, while...

Persistent link: https://www.econbiz.de/10014372429

One Size Doesn't Fit All : Heterogeneous Depositor Compensation During Periods of Uncertainty

Artavanis, Nikolaos; Paravisini, Daniel; Robles-Garcia, … - National Bureau of Economic Research - 2022

We develop a new approach to identify different categories of depositors during periods of uncertainty and quantify their compensation to remain in the bank. We isolate withdrawals due to liquidity needs, deterioration of fundamentals, and expectation about withdrawal behavior of other...

Persistent link: https://www.econbiz.de/10013362023

Selfish Corporations

Colonnelli, Emanuele; Gormsen, Niels; McQuade, Timothy - National Bureau of Economic Research - 2022

Motivated by the public debate regarding corporate responsibility, we construct a memory-based model of decision-making to illustrate how corporate and political communication can impact policy preferences. We test the predictions of our model in a new large-scale survey of U.S. citizens on...

Persistent link: https://www.econbiz.de/10013435138

Learning from Potentially-Biased Statistics : Household Inflation Perceptions and Expectations in Argentina

Cavallo, Alberto - 2016

When forming expectations, households may be influenced by the possibility that the information they receive is biased. In this paper, we study how individuals learn from potentially-biased statistics using data from both a natural and a survey-based experiment obtained during a period of...

Persistent link: https://www.econbiz.de/10012456571

Family and Government Insurance : Wage, Earnings, and Income Risks in the Netherlands and the U.S

De Nardi, Mariacristina - 2019

Netherlands. Family and government insurance reduce, but do not eliminate non-linearities in household disposable income by age …We document new facts on the dynamics of male wages and earnings, household earnings, and before- and after-tax income … in the Netherlands and the United States. We find that, in both countries, earnings display rich dynamics, including …

Persistent link: https://www.econbiz.de/10012479781

How Does Consumption Respond to News about Inflation? Field Evidence from a Randomized Control Trial

Coibion, Olivier - 2019

We implement a survey of Dutch households in which random subsets of respondents receive information about inflation. The resulting exogenously generated variation in inflation expectations is used to assess how expectations affect subsequent monthly consumption decisions relative to those in a...

Persistent link: https://www.econbiz.de/10012480052

Stock Market Expectations of Dutch Households

Hurd, Michael D. - 2010

Despite its importance for the analysis of life-cycle behavior, stock ownership by households is poorly understood. Among other approaches to the investigation of this puzzle, recent research has elicited the expectations of stock market returns by individuals. This paper reports findings from a...

Persistent link: https://www.econbiz.de/10012462193

Financial Literacy and Stock Market Participation

van Rooij, Maarten - 2007

financial literacy and its relation to financial decision-making, we have devised two special modules for the DNB Household …

Persistent link: https://www.econbiz.de/10012465082

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