The DOI matches its Crossref record; 22 of the 22 references it cites were found in a registry or an index.
Monetary Policy Communications and Their Effects on Household Inflation Expectations
Open accessAbstract
We study how different forms of communication influence inflation expectations in a randomized controlled trial using nearly 20,000 US individuals. We elicit individuals’ inflation expectations and then provide eight different forms of information regarding inflation. Reading the actual Federal Open Market Committee (FOMC) statement has about the same average effect on expectations as simply being told about the Federal Reserve’s inflation target. Reading news articles about the most recent FOMC meetings results in a forecast revision that is smaller by half. This exogenous variation in inflation expectations has subsequent effects on household spending reported in scanner and survey data.
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Citations
Cites
Central Bank Communication and Monetary Policy: A Survey of Theory and Evidence
Blinder, A. S., Ehrmann, M., Fratzscher, M., De Haan, J., & Jansen, D.-J. (2008) · Journal of Economic Literature · doi:10.1257/jel.46.4.910 · Cited by 1,383
Is the Phillips Curve Alive and Well after All? Inflation Expectations and the Missing Disinflation
Coibion, O., & Gorodnichenko, Y. (2015) · American Economic Journal: Macroeconomics · doi:10.1257/mac.20130306 · Cited by 736
Self-citationInnocent Bystanders? Monetary policy and inequality
Coibion, O., Gorodnichenko, Y., Kueng, L., & Silvia, J. (2017) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2017.05.005 · Cited by 626
Self-citationMeasuring the effects of federal reserve forward guidance and asset purchases on financial markets
Swanson, E. T. (2021) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2020.09.003 · Cited by 600
Inflation Expectations, Learning, and Supermarket Prices: Evidence from Survey Experiments
Cavallo, A., Cruces, G., & Perez-Truglia, R. (2017) · American Economic Journal: Macroeconomics · doi:10.1257/mac.20150147 · Cited by 421
Inflation Expectations and Firm Decisions: New Causal Evidence*
Coibion, O., Gorodnichenko, Y., & Ropele, T. (2020) · The Quarterly Journal of Economics · doi:10.1093/qje/qjz029 · Cited by 401
Self-citationInflation expectations as a policy tool?
Coibion, O., Gorodnichenko, Y., Kumar, S., & Pedemonte, M. (2020) · Journal of International Economics · doi:10.1016/j.jinteco.2020.103297 · Cited by 382
Self-citationWeber, S. J., & Cook, T. D. (1972) · Psychological Bulletin · doi:10.1037/h0032351 · Cited by 369
Exposure to Grocery Prices and Inflation Expectations
D’Acunto, F., Malmendier, U., Ospina, J., & Weber, M. (2021) · Journal of Political Economy · doi:10.1086/713192 · Cited by 363
Self-citationHome Price Expectations and Behaviour: Evidence from a Randomized Information Experiment
Armona, L., Fuster, A., & Zafar, B. (2019) · The Review of Economic Studies · doi:10.1093/restud/rdy038 · Cited by 319
Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence
Bachmann, R., Berg, T. O., & Sims, E. R. (2015) · American Economic Journal: Economic Policy · doi:10.1257/pol.20130292 · Cited by 317
Coronavirus Fears and Macroeconomic Expectations
Binder, C. (2020) · The Review of Economics and Statistics · doi:10.1162/rest_a_00931 · Cited by 269
How Do Expectations about the Macroeconomy Affect Personal Expectations and Behavior?
Roth, C., & Wohlfart, J. (2020) · The Review of Economics and Statistics · doi:10.1162/rest_a_00867 · Cited by 266
The Price Is Right: Updating Inflation Expectations in a Randomized Price Information Experiment
Armantier, O., Nelson, S., Topa, G., van der Klaauw, W., & Zafar, B. (2016) · Review of Economics and Statistics · doi:10.1162/rest_a_00499 · Cited by 259
Fed speak on main street: Central bank communication and household expectations
Binder, C. (2017) · Journal of Macroeconomics · doi:10.1016/j.jmacro.2017.05.003 · Cited by 203
Do people understand monetary policy?
Carvalho, C., & NECHIO, F. F. (2014) · Journal of Monetary Economics · doi:10.1016/j.jmoneco.2014.04.013 · Cited by 151
Are survey expectations theory-consistent? The role of central bank communication and news
Dräger, L., Lamla, M. J., & Pfajfar, D. (2016) · European Economic Review · doi:10.1016/j.euroecorev.2016.01.010 · Cited by 149
Household Informedness and Long-Run Inflation Expectations: Experimental Evidence
Binder, C. C., & Rodrigue, A. (2017) · Southern Economic Journal · doi:10.1002/soej.12306 · Cited by 148
Inflation Expectations and the Price at the Pump
Binder, C. C. (2016) · Journal of Macroeconomics · doi:10.1016/j.jmacro.2018.08.006 · Cited by 125
Do You Know that I Know that You Know…? Higher-Order Beliefs in Survey Data
Coibion, O., Gorodnichenko, Y., Kumar, S., & Ryngaert, J. (2021) · The Quarterly Journal of Economics · doi:10.1093/qje/qjab005 · Cited by 116
Self-citationAre Consumers' Spending Decisions in Line with A Euler Equation?
Dräger, L., & Nghiem, G. (2020) · The Review of Economics and Statistics · doi:10.1162/rest_a_00909 · Cited by 113
What Would You Do with $500? Spending Responses to Gains, Losses, News, and Loans
Fuster, A., Kaplan, G., & Zafar, B. (2020) · The Review of Economic Studies · doi:10.1093/restud/rdaa076 · Cited by 111
Cited by
Narratives about the Macroeconomy
Andre, P., Haaland, I., Roth, C., Wiederholt, M., & Wohlfart, J. (2026) · Review of Economic Studies · doi:10.1093/restud/rdag014 · Cited by 12
Metadata
- Authors
- Coibion, O., Gorodnichenko, Y., & Weber, M.
- Venue
- Journal of Political Economy
- Publisher
- University of Chicago Press
- Published
- 2022-06-01
- Volume
- 130
- Issue
- 6
- Pages
- 1537-1584
- ISSN
- 0022-3808 (ISSN-L)
- 1537-534X
- OpenAlex
- W2914323996
- Cited by
- 518
- References
- 22
- FWCI
- 137.31
- Type
- journal article
- Language
- en
- Open access
- green
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