| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14557 |
| DP14557 Aggregate Risk or Aggregate Uncertainty? Evidence from UK Households | |
| Luigi Paciello; Claudio Michelacci | |
| 发表日期 | 2020-04-04 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Using the Bank of England Inflation Attitudes Survey we find that households with preferences for higher inflation and higher interest rates have lower expected inflation. The wedge is mildly correlated with existing measures of uncertainty and increases after major economic events such as the failure of Lehman Brothers or the Brexit referendum. We interpret the wedge as due to Knightian uncertainty about future monetary policy and the underlying economic environment. If households had treated uncertainty as measurable risk, consumption and output would have been around 1 percent higher both during the Great Recession and in recent years. |
| 主题 | Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp14557 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/543461 |
| 推荐引用方式 GB/T 7714 | Luigi Paciello,Claudio Michelacci. DP14557 Aggregate Risk or Aggregate Uncertainty? Evidence from UK Households. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
除非特别说明，本系统中所有内容都受版权保护，并保留所有权利。
