Showing 1 - 10 of 9,725
Persistent link: https://www.econbiz.de/10010191433
This paper looks at the implications of heterogeneous beliefs for inflation dynamics. Following a monetary policy shock, inflation peaks after output, is inertial, and can be characterized by a Hybrid Phillips Curve. It presents a novel channel through which systematic monetary policy can affect...
Persistent link: https://www.econbiz.de/10003230345
This paper looks at the implications of heterogeneous beliefs for inflation dynamics. Following a monetary policy shock, inflation peaks after output, is inertial, and can be characterized by a Hybrid Phillips Curve. It presents a novel channel through which systematic monetary policy can affect...
Persistent link: https://www.econbiz.de/10012732012
This paper investigates the expectations formation process of economic agents about inflation rate. Using the Market Expectations System of Central Bank of Brazil, we perceive that agents do not update their forecasts every period and that even agents who update disagree in their predictions. We...
Persistent link: https://www.econbiz.de/10011866280
This paper builds a joint theory of endogenous inflation expectations and consumption-savings choices of heterogeneous …
Persistent link: https://www.econbiz.de/10013403182
We provide evidence on the dynamics, drivers, and consequences of attention to the macroeconomy using tailored panel surveys of German firms and households. Draw-ing on novel measures of attention based on open-ended questions collected before and during a historic shock to inflation, we...
Persistent link: https://www.econbiz.de/10014382474
Attention to the economy plays a key role in canonical macro models, yet its empirical properties are not well understood. We collect novel measures of attention to the economy based on open-ended survey questions. Our measures are included in tailored panel surveys of German firms and...
Persistent link: https://www.econbiz.de/10014447716
We provide evidence on narratives about the macroeconomy-the stories people tell to explain macroeconomic phenomena-in the context of a historic surge in inflation. We measure economic narratives in open-ended survey responses and represent them as Directed Acyclic Graphs. We apply this approach...
Persistent link: https://www.econbiz.de/10014307680
We provide evidence on narratives about the macroeconomy-the stories people tell to explain macroeconomic phenomena-in the context of a historic surge in inflation. In surveys with more than 10,000 US households and 100 academic experts, we measure economic narratives in open-ended survey...
Persistent link: https://www.econbiz.de/10015057525
Persistent link: https://www.econbiz.de/10000702356