| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27800 |
| 来源ID | Working Paper 27800 |
| Communication and the Beliefs of Economic Agents | |
| Bernardo Candia; Olivier Coibion; Yuriy Gorodnichenko | |
| 发表日期 | 2020-09-14 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | New surveys provide a wealth of information on how economic agents form their expectations and how those expectations shape their decisions. We review recent evidence on how changes in macroeconomic expectations, particularly inflation expectations, affect households’ and firms’ actions. We show that the provision of information about inflation to households and firms can sometimes backfire in terms of their subsequent decisions. Whether or not this is the case hinges on how individuals interpret the news about inflation: supply-side interpretations (“inflation is bad for the economy”) lead to negative income effects, which can depress economic activity. We show that households in advanced economies, unlike professional forecasters, typically have such a supply-side interpretation, as do many firms. New communication strategies could avoid public misinterpretation of policy decisions. |
| 主题 | Macroeconomics ; Consumption and Investment ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w27800 |
| 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/585472 |
| 推荐引用方式 GB/T 7714 | Bernardo Candia,Olivier Coibion,Yuriy Gorodnichenko. Communication and the Beliefs of Economic Agents. 2020. |
| 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 | ||
| w27800.pdf（480KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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