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The subjective inflation expectations of households and firms : measurement, determinants, and implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

Households' and firms' subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households' and firms' economic...

Persistent link: https://www.econbiz.de/10013271201

Imperfect competition, monetary policy and welfare in a currency area

Lombardo, Giovanni - 2002

This paper studies the implication, in terms of welfare and monetary policy, of unequal degrees of competition across members of a currency area. We look at two ways in which the degree of competition in the market for goods can affect welfare in a currency area. One is through different average...

Persistent link: https://www.econbiz.de/10001693438

Imperfect competition, monetary policy and welfare in a currency area

Lombardo, Giovanni - 2002

auf die Wohlfahrt und die optimale Geldpolitik. Betrachtet werden zwei Möglichkeiten, wie die Wettbewerbsintensität am … die Geldpolitik effektiver sein, wenn die Länder größere Asymmetrien aufweisen. Diese Ergebnisse legen es nahe, dass die … intensiver ist. Die optimale Geldpolitik der Zentralbank der Währungsunion wird ermittelt und mit einer einfachen Taylor …

Persistent link: https://www.econbiz.de/10011431763

Imperfect Competition, Monetary Policy and Welfare in a Currency Area

Lombardo, Giovanni - 2016

Persistent link: https://www.econbiz.de/10012991267

Overcoming the Zero Bound on Interest Rate Policy

Goodfriend, Marvin - 2012

The paper proposes three options for overcoming the zero bound on interest rate policy: a carry tax on money, open market operations in long bonds, and monetary transfers. A variable carry tax on electronic bank reserves could enable a central bank to target negative nominal interest rates. A...

Persistent link: https://www.econbiz.de/10013102314

The Subjective Inflation Expectations of Households and Firms : Measurement, Determinants, and Implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

Households’ and firms’ subjective inflation expectations play a central role in macroeconomic and intertemporal microeconomic models. We discuss how subjective inflation expectations are measured, the patterns they display, their determinants, and how they shape households’ and firms’...

Persistent link: https://www.econbiz.de/10014084157

Asymmetric Inflation Expectations, Downward Rigidity of Wages, and Asymmetric Business Cycles

Baqaee, David - 2017

Households typically know their nominal wages precisely, but only have a vague idea about he price of the goods and services they consume. Conditional on their nominal wage, this means that inflation is bad news and deflation is good news. If households face Knightian uncertainty about the price...

Persistent link: https://www.econbiz.de/10012973004

The Subjective Inflation Expectations of Households and Firms : Measurement, Determinants, and Implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

Persistent link: https://www.econbiz.de/10014030510

Inflation expectations and the two forms of inattentiveness

Easaw, Joshy Z.; Golinelli, Roberto - 2014

The purpose of the present paper is to investigate the structure and dynamics of professionals' forecast of inflation. Recent papers have focused on their forecast errors and how they may be affected by informational rigidities, or inattentiveness. In this paper we extend the existing literature...

Persistent link: https://www.econbiz.de/10010429166

The Subjective Inflation Expectations of Households and Firms : Measurement, Determinants, and Implications

Weber, Michael; D'Acunto, Francesco; Gorodnichenko, Yuriy; … - 2022

Persistent link: https://www.econbiz.de/10013297216