| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP16758 |
| DP16758 Inflation Narratives | |
| Ingar Haaland; Christopher Roth; Johannes Wohlfart | |
| 发表日期 | 2021-11-28 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We provide evidence on the stories that people tell to explain a historically notable rise in inflation using samples of experts, U.S. households, and managers. We document substantial heterogeneity in narratives about the drivers of higher inflation rates. Experts put more emphasis on demand-side factors, such as fiscal and monetary policy, and on supply chain disruptions. Other supply-side factors, such as labor shortages or increased energy costs, are equally prominent across samples. Households and managers are more likely to tell generic stories related to the pandemic or mismanagement by the government. We also find that households and managers expect the increase in inflation to be more persistent than experts. Moreover, narratives about the drivers of the inflation increase are strongly correlated with beliefs about its persistence. Our findings have implications for understanding macroeconomic expectation formation. |
| 主题 | Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp16758 |
| 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/545692 |
| 推荐引用方式 GB/T 7714 | Ingar Haaland,Christopher Roth,Johannes Wohlfart. DP16758 Inflation Narratives. 2021. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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