G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15307
DP15307 Average Inflation Targeting and Household Expectations
Yuriy Gorodnichenko; Edward Knotek; Raphael Schoenle
发表日期2020-09-18
出版年2020
语种英语
摘要Using a daily survey of U.S. households, we study how the Federal Reserve’s announcement of its new strategy of average inflation targeting affected households’ expectations. Starting with the day of the announcement, there is a very small uptick in the minority of households reporting that they had heard news about monetary policy relative to prior to the announcement, but this effect fades within a few days. Those hearing news about the announcement do not seem to have understood the announcement: they are no more likely to correctly identify the Fed’s new strategy than others, nor are their expectations different. When we provide randomly selected households with pertinent information about average inflation targeting, their expectations still do not change in a different way than when households are provided with information about traditional inflation targeting.
主题Monetary Economics and Fluctuations
关键词Inflation targeting Inflation expectations Surveys Communication Randomized controlled trial
URLhttps://cepr.org/publications/dp15307
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/544284
推荐引用方式
GB/T 7714
Yuriy Gorodnichenko,Edward Knotek,Raphael Schoenle. DP15307 Average Inflation Targeting and Household Expectations. 2020.
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