We develop an experimental framework to investigate the quantity theory of money and the real effects of inflation in … an economy where money serves as a medium of exchange. We test the classical view that inflation reduces output and … welfare by taxing monetary exchange. Inflation is engineered by constant money growth. We conduct three treatments, where the …

Survey of Consumer Expectations. We find that inflation expectations appear to correlate more strongly to measures of …’ inflation expectations to their own lagged forecasts as well as proxies for the rational expectation forecasts. The model builds … in inflation expectations extensively documented in the literature. We estimate the model using data from two important …

This paper examines the value of direct communication to households about inflation and the uncertainty around … inflation statistics. All types of information about inflation are effective at immediately managing inflation expectations …, with information about outlooks being more effective and more relevant than that about recent inflation and Bank targets …

's Business Outlook Survey, spanning the 2001 to 2015 period. The data are aggregated to construct an inflation expectations index …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 …

with survey data. I find that, in response to a change in forward guidance, forecasters revise their interest rate … effects. Instead, when forming rate expectations, forecasters place full weight on their own inflation and growth forecasts …

Central banks in most advanced economies have reacted similarly to the increase in inflation that started in 2021. They … initially looked through the rising inflation by leaving monetary policy relatively unchanged. Then, after inflation continued … aiming to anchor drifting inflation expectations. Why might central banks want to look through supply-driven inflation …

Federal Reserve Bank of New York's Survey of Consumer Expectations to directly calibrate perceived income risks. One of …

A number of central banks publish their own business conditions survey based on non-random sampling methods. The …, and computing relevant measures of statistical confidence, based on a given survey's historical sample selection practice …. We apply this framework to the Bank of Canada's Business Outlook Survey by describing the sampling method in terms of …

by the announcement of inflation targeting in 1991 when estimating the effects of monetary policy. For instance, we find …