| 来源类型 | VoxEU Column |
| 规范类型 | 评论 |
| The zero lower bound on inflation expectations | |
| Yuriy Gorodnichenko; Dmitriy Sergeyev | |
| 发表日期 | 2022-01-11 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Inflation expectations affect the decisions of households, firms, and policymakers. Expectations of negative inflation can be particularly harmful and lead to deflationary spirals when nominal interest rates are near zero. This column uses survey evidence to show that households and firms almost never expect deflation, even when it is a clear possibility. This apparent zero lower bound on inflation expectations has important implications for macroeconomic dynamics and the effectiveness of monetary policy. Unconventional policies, such as forward guidance, which aim to increase inflation expectations may be less effective when expectations are stuck at the zero lower bound. |
| 正文 |
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| URL | https://cepr.org/voxeu/columns/zero-lower-bound-inflation-expectations-0 |
| 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/556509 |
| 推荐引用方式 GB/T 7714 | Yuriy Gorodnichenko,Dmitriy Sergeyev. The zero lower bound on inflation expectations. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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