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Does a bias in FOMC policy directives help predict intermeeting policy changes?

Lapp, John S.; Pearce, Douglas Kenneth - In: Journal of money, credit and banking : JMCB 32 (2000) 3,1, pp. 435-441

Persistent link: https://www.econbiz.de/10001509274

Inflation and deflationary biases in inflation expectations

Lamla, Michael; Pfajfar, Damjan; Rendell, Lea - 2019

Persistent link: https://www.econbiz.de/10012051269

Inflation and deflationary biases in inflation expectations

Lamla, Michael; Pfajfar, Damjan; Rendell, Lea - 2019

, we show that an inflation bias as well as a deflationary bias exist as a steady-state outcome. We assess the predictions …

Persistent link: https://www.econbiz.de/10012181222

Inflation and deflationary biases in inflation expectations

Lamla, Michael; Pfajfar, Damjan; Rendell, Lea - 2019

, we show that an inflation bias as well as a deflationary bias exist as a steady-state outcome. We assess the predictions …

Persistent link: https://www.econbiz.de/10012317310

Does a Bias in FOMC Directives Help Predict Inter-Meeting Policy Changes?

Lapp, John S.; Pearce, Douglas K. - 2001

Since 1984, the FOMC has often issued directives for monetary policy that indicate a bias toward easing or tightening … after a directive is issued, the results indicate that a bias to ease predicts a significantly lower average funds rate and … a bias to tighten forecasts a significantly higher average funds rate. If policy is measured qualitatively by whether …

Persistent link: https://www.econbiz.de/10014185105

Human frictions in the transmission of economic policy

D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; … - 2021 - This version: September 2021

Many consumers below the top of the distribution of a representative population by cognitive abilities barely react to monetary and fiscal policies that aim to stimulate consumption and borrowing, even when they are financially unconstrained and despite substantial debt capacity. Differences in...

Persistent link: https://www.econbiz.de/10012617622

Human frictions in the transmission of economic policy

D'Acunto, Francesco; Hoang, Daniel; Paloviita, Maritta; … - 2019

Intertemporal substitution is at the heart of modern macroeconomics and finance as well as economic policymaking, but a large fraction of a representative population of men - those below the top of the distribution by cognitive abilities (IQ) - do not change their consumption propensities with...

Persistent link: https://www.econbiz.de/10011959294

The subjective inflation expectations of households and firms : measurement, determinants, and implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

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, and how they shape households' and firms' economic...

Persistent link: https://www.econbiz.de/10013271201

The subjective inflation expectations of households and firms : measurement, determinants, and implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

Persistent link: https://www.econbiz.de/10013269793