| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w27836 |
| 来源ID | Working Paper 27836 |
| Average Inflation Targeting and Household Expectations | |
| Olivier Coibion; Yuriy Gorodnichenko; Edward S. Knotek II; Raphael Schoenle | |
| 发表日期 | 2020-09-21 |
| 出版年 | 2020 |
| 语种 | 英语 |
| 摘要 | Using a daily survey of U.S. households, we study how the Federal Reserve’s announcement of its new strategy of average inflation targeting affected households’ expectations. Starting with the day of the announcement, there is a very small uptick in the minority of households reporting that they had heard news about monetary policy relative to prior to the announcement, but this effect fades within a few days. Those hearing news about the announcement do not seem to have understood the announcement: they are no more likely to correctly identify the Fed’s new strategy than others, nor are their expectations different. When we provide randomly selected households with pertinent information about average inflation targeting, their expectations still do not change in a different way than when households are provided with information about traditional inflation targeting. Even one year after the announcement, U.S. households remain mostly unaware of the change in strategy or its implications. |
| 主题 | Macroeconomics ; Business Cycles ; Money and Interest Rates ; Monetary Policy |
| URL | https://www.nber.org/papers/w27836 |
| 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/585507 |
| 推荐引用方式 GB/T 7714 | Olivier Coibion,Yuriy Gorodnichenko,Edward S. Knotek II,et al. Average Inflation Targeting and Household Expectations. 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 | ||
| w27836.pdf（709KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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