| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w24788 |
| 来源ID | Working Paper 24788 |
| Inflation Expectations as a Policy Tool? | |
| Olivier Coibion; Yuriy Gorodnichenko; Saten Kumar; Mathieu Pedemonte | |
| 发表日期 | 2018-07-09 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We assess whether central banks may use inflation expectations as a policy tool for stabilization purposes. We review recent work on how expectations of agents are formed and how they affect their economic decisions. Empirical evidence suggests that inflation expectations of households and firms affect their actions but the underlying mechanisms remain unclear, especially for firms. Two additional limitations prevent policy-makers from being able to actively manage inflation expectations. First, available surveys of firms’ expectations are systematically deficient, which can only be addressed through the creation of large, nationally representative surveys of firms. Second, neither households’ nor firms’ expectations respond much to monetary policy announcements in low-inflation environments. We provide suggestions for how monetary policy-makers can pierce this veil of inattention through new communication strategies. At this stage, there remain a number of implementation issues and open research questions that need to be addressed to enable central banks to use inflation expectations as a policy tool. |
| 主题 | Econometrics ; Data Collection ; Microeconomics ; Economics of Information ; Macroeconomics ; Business Cycles |
| URL | https://www.nber.org/papers/w24788 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/582462 |
| 推荐引用方式 GB/T 7714 | Olivier Coibion,Yuriy Gorodnichenko,Saten Kumar,et al. Inflation Expectations as a Policy Tool?. 2018. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w24788.pdf（587KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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