The DOI matches its Crossref record; 23 of the 23 references it cites were found in a registry or an index.
Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence
Open accessAbstract
There have been suggestions for monetary policy to engineer higher inflation expectations to stimulate spending. We examine the relationship between expected inflation and spending attitudes using the microdata from the Michigan Survey of Consumers. The impact of higher inflation expectations on the reported readiness to spend on durables is generally small, outside the zero lower bound, often statistically insignificant, and inside of it typically significantly negative. In our baseline specification, a one percentage point increase in expected inflation during the recent zero lower bound period reduces households' probability of having a positive attitude towards spending by about 0.5 percentage points. (JEL D12, D84, E21, E31, E52)
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The Impact of Uncertainty Shocks
(2009) · Econometrica · doi:10.3982/ecta6248 · Cited by 5,834
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Bloom, N. (2007) · National Bureau of Economic Research · doi:10.3386/w13385 · Cited by 2,111
When Is the Government Spending Multiplier Large?
Christiano, L., Eichenbaum, M., & Rebelo, S. (2011) · Journal of Political Economy · doi:10.1086/659312 · Cited by 1,837
Zero Bound on Interest Rates and Optimal Monetary Policy
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It's Baaack: Japan's Slump and the Return of the Liquidity Trap
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Learning from Inflation Experiences *
Malmendier, U., & Nagel, S. (2016) · The Quarterly Journal of Economics · doi:10.1093/qje/qjv037 · Cited by 1,063
Simple Analytics of the Government Expenditure Multiplier
Woodford, M. (2011) · American Economic Journal: Macroeconomics · doi:10.1257/mac.3.1.1 · Cited by 862
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Monetary Policy Communications and Their Effects on Household Inflation Expectations
Coibion, O., Gorodnichenko, Y., & Weber, M. (2022) · Journal of Political Economy · doi:10.1086/718982 · Cited by 518
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
Inflation 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
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
Home 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
Metadata
- Authors
- Bachmann, R., Berg, T. O., & Sims, E. R.
- Venue
- American Economic Journal: Economic Policy
- Publisher
- American Economic Association
- Published
- 2015-02-01
- Volume
- 7
- Issue
- 1
- Pages
- 1-35
- ISSN
- 1945-7731 (ISSN-L)
- 1945-774X
- OpenAlex
- W2093418366
- Cited by
- 317
- References
- 23
- FWCI
- 58.81
- Type
- journal article
- Language
- en
- Open access
- green
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