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Monetary policy, rule-of-thumb consumers and external habits : a G7 comparison
Di Bartolomeo, Giovanni; Rossi, Lorenza; Tancioni, … - In: Applied economics 43 (2011) 19/21, pp. 2721-2738
Persistent link: https://www.econbiz.de/10009379600
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Monetary Policy, Rule-of-Thumb Consumers and External Habits: A G7 Comparison
Di Bartolomeo, Giovanni; Rossi, Lorenza; Tancioni, … - 2009
This paper extends the standard New Keynesian dynamic stochastic general equilibrium (DSGE) model to agents who cannot smooth consumption (i.e. spenders) and are affected by external consumption habits. Although these assumptions are not new, their joint consideration strongly affects some...
Persistent link: https://www.econbiz.de/10010343913
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Monetary policy shocks from the consumer perspective
Claus, Edda; Viet Hoang Nguyen - In: Journal of monetary economics 114 (2020), pp. 159-173
Persistent link: https://www.econbiz.de/10012494950
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The asymmetric effects of deflation on consumption spending : evidence from the great depression
Davis, Scott - In: Economics letters 130 (2015), pp. 105-108
Persistent link: https://www.econbiz.de/10011422434
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Are consumer expectations theory-consistent? : the role of macroeconomic determinants and central bank communication
Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2013
Persistent link: https://www.econbiz.de/10010228794
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Are consumer expectations theory-consistent? : the role of macroeconomic determinants and central bank communication
Dräger, Lena; Lamla, Michael; Pfajfar, Damjan - 2013
% of consumers form theory-consistent expectations with respect to all three concepts. For the Taylor Rule and the Phillips …. Evaluating determinants of consistency, we provide evidence that the likelihood of having theory-consistent expectations with … with theory-consistent expectations have lower absolute inflation forecast errors and are closer to professionals …
Persistent link: https://www.econbiz.de/10010201163
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Are consumer expectations theory-consistent? : the role of macroeconomic determinants and central bank communication
Dräger, Lena (contributor); Lamla, Michael (contributor);  … - 2014
% consistent with the Taylor rule and 34% are in line with the Phillips curve. However, only 6% of consumers form theory … target. Finally, consumers with theory-consistent expectations have lower absolute ination forecast errors and are closer to …
Persistent link: https://www.econbiz.de/10010425155
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Household Debt and Monetary Policy : Revealing the Cash-Flow Channel
Flodén, Martin - 2019
We examine the effect of monetary policy on household spending when households are indebted and interest rates on outstanding loans are linked to short-term interest rates. Using administrative data on balance sheets and consumption expenditure of Swedish households, we reveal the cash-flow...
Persistent link: https://www.econbiz.de/10012900523
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Household Debt and Monetary Policy : Revealing the Cash-Flow Channel
Flodén, Martin - 2017
We examine the cash-flow channel of monetary policy, i.e. the effect of monetary policy on spending when households hold debt linked to short-term rates such as adjustable rate mortgages (ARMs). Using registry-based data on Swedish households, we estimate substantial heterogeneity in consumption...
Persistent link: https://www.econbiz.de/10012969777
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Do monetary policy announcements shift household expectations?
Lewis, Daniel J.; Makridis, Christos A.; Mertens, Karel - 2019
We use daily survey data from Gallup to assess whether households' beliefs about economic conditions are influenced by surprises in monetary policy announcements. We first provide more general evidence that public confidence in the state of the economy reacts to certain types of macroeconomic...
Persistent link: https://www.econbiz.de/10012227486