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Persistent link: https://www.econbiz.de/10014475320
The empirical effectiveness of economic policies that operate theoretically through similar channels differs substantially. We document this fact by comparing an easy-to-grasp expectations-based policy, unconventional fiscal policy, with a policy whose implications are harder to understand by...
Persistent link: https://www.econbiz.de/10012057290
expectations for disaggregated consumption categories, I find household expectations are disproportionately driven by beliefs about …
Persistent link: https://www.econbiz.de/10014284065
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This paper discusses the evolution of the household debt in Australia and finds that while higher-income and higher … depending on the level of household debt. The results corroborate other work that households' response to monetary policy shocks …
Persistent link: https://www.econbiz.de/10012019787
We study households' response to the redistributive effects of inflation combining bank data with an information experiment during historic inflation. Households are generally well-informed about inflation and concerned about its wealth impact; yet, while knowledge about inflation eroding...
Persistent link: https://www.econbiz.de/10015175417
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We study the redistributive effects of surprise inflation combining administrative bank data with an information provision experiment during an episode of historic inflation. On average, households are well-informed about prevailing inflation and are concerned about its impact on their wealth;...
Persistent link: https://www.econbiz.de/10014490357
This paper studies the impact of household indebtedness on the consumption channel of monetary policy using the Chinese … household-level survey data. We employ a panel smooth transition regression model to investigate the non-linear role of … there is a much larger counteraction of consumption in response to monetary policy shocks when household indebtedness …
Persistent link: https://www.econbiz.de/10013323103
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