Dietrich, Alexander M.; Müller, Gernot J.; Schoenle, … - 2021
Using a representative consumer survey in the U.S., we elicit beliefs about the economic impact of climate change … the survey and quantify the expectation channel of climate change: disaster expectations lower the natural rate of … interest by about 65 basis points and, assuming a conventional Taylor rule for monetary policy, inflation and the output gap by …
