Monetary Conditions News and Consumer Expectations at the Zero Lower Bound

Using Michigan Survey of Consumers data from December 2008 to December 2015, we fi nd U.S. households' interest rate expectations respond to monetary conditions news - in the direction intended by monetary policy, which would be consistent with the signalling channel of unconventional monetary policy. However, our results indicate neither short-term nor medium-term household inflation expectations respond to monetary conditions news

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Year of publication:	2017
Authors:	Sheen, Jeffrey
Other Persons:	Wang, Ben Zhe (contributor)
Publisher:	[2017]: [S.l.] : SSRN
Subject:	Niedrigzinspolitik \| Low-interest-rate policy \| Geldpolitik \| Monetary policy \| Erwartungsbildung \| Expectation formation \| Zins \| Interest rate \| Ankündigungseffekt \| Announcement effect \| Konsumentenverhalten \| Consumer behaviour

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