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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 using a randomized control trial (RCT) on a representative sample of the German population. In an experiment with two steps, we first test the effect of non-numerical information...
Persistent link: https://www.econbiz.de/10014309588
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Monetary policy committees : individual and collective reputations
Sibert, Anne C. - 1999
This paper looks at how the reputation of a monetary policy making committee is jointly determined with the reputations of its individual members. I ask whether individuals ha ve more or less incentive to gain a reputation for being tough on inflation when they are part of a group. I examine the...
Persistent link: https://www.econbiz.de/10009781721
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Anchoring households' inflation expectations when inflation is high
Giang Hong Nghiem; Dräger, Lena; Dalloul, Ami - 2024
This paper explores communication strategies for anchoring households’ medium-term inflation expectations in a high inflation environment. We conducted a survey experiment with a representative sample of 4,000 German households at the height of the recent inflation surge in early 2023, with...
Persistent link: https://www.econbiz.de/10014507809
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Understanding firms' inflation expectations using the Bank of Canada's Business Outlook Survey
Richards, Simon; Verstraete, Matthieu - 2016
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10011540769
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Friedman rule in a model with endogenous growth and cash-in-advance constraint
Gahvari, Firouz - 2009
This paper introduces money into an overlapping generations model with endogenous growth. The model, due to Docquier et al. (2007), exhibits a positive intergenerational externality which precludes its laissez-fair equilibrium to be optimal even if the government can control the level of...
Persistent link: https://www.econbiz.de/10003861772
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The quantity theory of money and Friedmanian monetary policy : an empirical investigation
Hillinger, Claude; Süssmuth, Bernd; Sunder, Marco - 2012
We introduce an approach for the empirical study of the quantity theory of money (QTM) that is novel both with respect to the specific steps taken as well as the general methodology employed. Empirical studies of the QTM have focused directly on the relationship between the rate of change of the...
Persistent link: https://www.econbiz.de/10009508095
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Money, credit and banking
Berentsen, Aleksander (contributor);  … - 2005
In monetary models in which agents are subject to trading shocks there is typically an ex-post inefficiency in that some agents are holding idle balances while others are cash constrained. This inefficiency creates a role for financial intermediaries, such as banks, who accept nominal deposits...
Persistent link: https://www.econbiz.de/10003297591
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Credibility and transparency of Central Banks : new results based on Ifo s world economicy survey
Hamella, Sandra; Haan, Jakob de - 2004
This paper reports the results of a survey among private sector economists about credibility and transparency of … Survey to answer questions on the importance and determinants of credibility. The results of both surveys are very comparable …. Credibility is considered to be important to attain price stability at low cost, while the best ways to earn credibility are a …
Persistent link: https://www.econbiz.de/10011399168
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An experimental study on the effects of communication, credibility, and clustering in network games
Charness, Gary; Feri, Francesco; Meléndez-Jiménez, … - 2019
ineffective. We can rationalize this result with a novel model about the credibility of cheap-talk messages. This credibility is … credibility and show, both theoretically and experimentally, an interaction effect of network structure and communication …
Persistent link: https://www.econbiz.de/10012024395
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On credibility and causality in economics : a critical appraisal
Bergh, Andreas; Wichardt, Philipp C. - 2024 - This version: July 9, 2024
to the credibility revolution) tends to put too much emphasis on internal aspects related solely to the study itself. To …
Persistent link: https://www.econbiz.de/10014632289