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Survey expectations, adaptive learning and inflation dynamics
Rychalovska, Yuliya; Slobodyan, Sergey; Wouters, Rafael - 2024
Persistent link: https://www.econbiz.de/10014545353
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Dormant Shocks and Fiscal Virtue
Bianchi, Francesco - 2013
and uncertainty in the 70s. The currently low long term interest rates and inflation expectations might hide the true risk …
Persistent link: https://www.econbiz.de/10013080961
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Behavioral learning equilibria
Hommes, Cars H.; Zhu, Mei - 2013
Persistent link: https://www.econbiz.de/10010191433
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Inflation narratives
Andre, Peter; Haaland, Ingar; Roth, Christopher; … - 2021
We provide evidence on the stories that people tell to explain a historically notable rise in inflation using samples of experts, U.S. households, and managers. We document substantial heterogeneity in narratives about the drivers of higher inflation rates. Experts put more emphasis on...
Persistent link: https://www.econbiz.de/10012799460
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Inflation Narratives
Andre, Peter; Haaland, Ingar; Roth, Christopher; … - 2022
We survey retail investors at an online bank to study beliefs about the autocorrelation of aggregate stock returns, and how these beliefs shape investment decisions measured in administrative account data. Individuals' beliefs exhibit substantial heterogeneity and predict trading responses to...
Persistent link: https://www.econbiz.de/10013307010
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Firm inattention and the efficacy of monetary policy : a text-based approach
Song, Wenting; Stern, Samuel - 2022 - Last updated: January 11, 2022
This paper provides direct evidence of the importance of firm attention to macro-economic dynamics. We construct a text-based measure of firm attention to macro-economic news and document firm attention that is polarized and countercyclical. Differences in attention lead to asymmetric responses...
Persistent link: https://www.econbiz.de/10012797080
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Endogenous Information, Menu Costs and Inflation Persistence
Gorodnichenko, Yuriy - 2009
This paper develops a model where firms make state-dependent decisions on both pricing and acquisition of information. It is shown that when information is not perfect, menu costs combined with the aggregate price level serving as an endogenous public signal generate rigidity in price setting...
Persistent link: https://www.econbiz.de/10012720500
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Inflation Expectations, Disagreement, and Monetary Policy
Hoffmann, Mathias - 2016
Survey data on inflation expectations show that: (i) private sector forecasts and central bank forecasts are not fully … aligned and (ii) private sector forecasters disagree about inflation expectations. To reconcile these two facts we introduce … dispersed information in a New Keynesian model, where as a result, inflation expectations differ between the private sector and …
Persistent link: https://www.econbiz.de/10012981897
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Inflation, Net Nominal Positions, and Consumption
Hackethal, Andreas; Schnorpfeil, Philip; Weber, Michael - 2022
and debt positions. Once they receive information on this erosion channel, they update perceptions and expectations about …
Persistent link: https://www.econbiz.de/10014236128
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Self-Fulfilling Inflation Inertia under Model Uncertainty
Kaihatsu, Sohei - 2009
examine a purely forward-looking New Keynesian Phillips curve with heterogeneous expectations, where the coordination of … is allowed to vary, there exist multiple equilibria: rational expectations equilibrium without any inertia and …
Persistent link: https://www.econbiz.de/10014208104