| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w25412 |
| 来源ID | Working Paper 25412 |
| Inflation Expectations and Firm Decisions: New Causal Evidence | |
| Olivier Coibion; Yuriy Gorodnichenko; Tiziano Ropele | |
| 发表日期 | 2018-12-31 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We use a unique design feature of a survey of Italian firms to study the causal effect of inflation expectations on firms’ economic decisions. In the survey, a randomly chosen subset of firms is repeatedly treated with information about recent inflation whereas other firms are not. This information treatment generates exogenous variation in inflation expectations. We find that higher inflation expectations on the part of firms leads them to raise their prices, increase demand for credit, and reduce their employment and capital. However, when policy rates are constrained by the effective lower bound, demand effects are stronger, leading firms to raise their prices more and no longer reduce their employment. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles |
| URL | https://www.nber.org/papers/w25412 |
| 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/583086 |
| 推荐引用方式 GB/T 7714 | Olivier Coibion,Yuriy Gorodnichenko,Tiziano Ropele. Inflation Expectations and Firm Decisions: New Causal Evidence. 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 | ||
| w25412.pdf（829KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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