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The hidden heterogeneity of inflation and interest rate expectations : the role of preferences

Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2022

Using a new consumer survey dataset, we show that macroeconomic preferences affect expectations and economic decisions through different channels. While household expectations are on average inversely related to preferences, households with the same inflation or interest rate expectations can...

Persistent link: https://www.econbiz.de/10013166152

Anchoring households' inflation expectations when inflation is high

Giang Hong Nghiem; Dräger, Lena; Dalloul, Ami - 2024

treatment effects are particularly pronounced among respondents with high financial literacy and high trust in the central bank. …

Persistent link: https://www.econbiz.de/10014507809

Consumers' macroeconomic expectations

Dräger, Lena; Lamla, Michael - 2023

role of narratives and preferences and lastly, we survey the research on causal effects of central bank communication on …

Persistent link: https://www.econbiz.de/10014383922

Central bank communication with the general public

Dräger, Lena - 2023

This paper surveys the literature on the role and effects of central bank communication with the general public … "communication revolution" in central bank communication. The challenges for central bank communication with the public are outlined … media as transmitter of central bank communication to the public. …

Persistent link: https://www.econbiz.de/10014384011

How to limit the spillover from an inflation surge to inflation expectations?

Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2023

We study the effects of forward-looking communication in an environment of rising inflation rates on German consumers' inflation expectations using a randomized control trial. We show that information about rising inflation increases short- and long-term inflation expectations. This initial...

Persistent link: https://www.econbiz.de/10014247283

Inflation literacy, inflation expectations, and trust in the central bank : a survey experiment

Dräger, Lena; Giang Hong Nghiem - 2023

This paper studies the causal effect of inflation literacy on inflation expectations and trust in the central bank … bank. It also causes a higher likelihood that respondents provide inflation predictions, but does not affect the level of … reported forecast uncertainty and trust in the central bank. …

Persistent link: https://www.econbiz.de/10014309588