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environment affects how agents learn from new information. We show that as inflation rose in advanced economies, both households … and firms became more attentive and informed about publicly available news about inflation, leading them to respond less … to exogenously provided information about inflation and monetary policy. We also study the effects of RCTs in countries …
Persistent link: https://www.econbiz.de/10014490479
Persistent link: https://www.econbiz.de/10015085125
We implement a survey-based randomized information treatment that generates independent variation in the inflation … expectations and the uncertainty about future inflation of European households. This variation allows us to assess how both first … and second moments of inflation expectations separately affect subsequent household decisions. We document several key …
Persistent link: https://www.econbiz.de/10015069388
We study how different forms of communication influence the inflation expectations of individuals in a randomized … controlled trial. We first solicit individuals' inflation expectations in the Nielsen Homescan panel and then provide eight … different forms of information regarding inflation. Reading the actual Federal Open Market Committee (FOMC) statement has about …
Persistent link: https://www.econbiz.de/10011958866
affects how agents learn from new information. We show that as inflation has recently risen in advanced economies, both … households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously … provided information about inflation and monetary policy. We also study the effects of RCTs in countries where inflation has …
Persistent link: https://www.econbiz.de/10014311952
We review recent research and experiences linking inflation and expectations, emphasizing what has been learned since … 2020. One clear lesson is that the inflation expectations of most economic agents have been and remain unanchored. The … unanchored nature of inflation expectations, in combination with supply shocks, can explain much of the inflation surge and …
Persistent link: https://www.econbiz.de/10015407653
Persistent link: https://www.econbiz.de/10015401150
Persistent link: https://www.econbiz.de/10015418096
Persistent link: https://www.econbiz.de/10013269793
Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal … microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants …
Persistent link: https://www.econbiz.de/10013271201