| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP14905 |
| DP14905 What Matters in Households' Inflation Expectations? | |
| Philippe Andrade; Erwan Gautier; Eric Mengus | |
| 发表日期 | 2020-06-18 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | We provide new survey evidence on how households’ inflation expectations matter for their spending. A large share of households expects prices to remain stable instead of increasing. Such a belief is linked to individual experience with non-durable goods frequently purchased. Households expecting stable prices have a lower propensity to buy durable goods than those expecting positive inflation. In contrast, differences across households expecting positive inflation are associated with insignificant differences in durable consumption decisions. That behavioral distortion limits the impact of household inflation expectations on aggregate demand compared to the standard New Keynesian model. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Inflation expectation channel Heterogeneous beliefs Households’ spending Stabilization policies |
| URL | https://cepr.org/publications/dp14905-1 |
| 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/543846 |
| 推荐引用方式 GB/T 7714 | Philippe Andrade,Erwan Gautier,Eric Mengus. DP14905 What Matters in Households' Inflation Expectations?. 2020. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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