| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17305 |
| DP17305 Narratives about the Macroeconomy | |
| Peter Andre; Ingar Haaland; Christopher Roth; Johannes Wohlfart | |
| 发表日期 | 2022-05-13 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | We provide evidence on narratives about the macroeconomy—the stories people tell to explain macroeconomic phenomena—in the context of a historic surge in inflation. We measure economic narratives in open-ended survey responses and represent them as Directed Acyclic Graphs. We apply this approach in surveys with more than 8,000 US households and 100 academic experts. We document three main findings. First, compared to experts, households’ narratives are coarser, focus less on the demand side, and are more likely to feature politically-loaded explanations. Second, households’ narratives strongly shape their inflation expectations, which we demonstrate with descriptive survey data and a series of experiments. Third, an experiment varying news consumption shows that the media is an important source of narratives. Our findings demonstrate the relevance of narratives for understanding macroeconomic expectation formation. |
| 主题 | Monetary Economics and Fluctuations |
| URL | https://cepr.org/publications/dp17305 |
| 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/546333 |
| 推荐引用方式 GB/T 7714 | Peter Andre,Ingar Haaland,Christopher Roth,et al. DP17305 Narratives about the Macroeconomy. 2022. |
| 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。
