Using a new consumer survey dataset, we show that macroeconomic preferences affect expectations and economic decisions through different channels. While household expectations are on average inversely related to preferences, households with the same inflation or interest rate expectations can...

Using Michigan Survey of Consumers data from December 2008 to December 2015, we fi nd U.S. households' interest rate expectations respond to monetary conditions news - in the direction intended by monetary policy, which would be consistent with the signalling channel of unconventional monetary...

Using a new consumer survey dataset, we study the role of macroeconomic preferences for expectations and economic decisions. While household expectations are inversely related to preferences, households with the same in ation expectations can differently assess whether the level of expected in...

This note tests the hypothesis that nominal interest differentials between similar assets denominated in different currencies can be explained entirely by the expected change in the exchange rate over the holding period. This proposition, often called the "Fisher open" hypothesis or the...