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2017-05-29Diskussionspapier DOI: 10.18452/18700
The impact of news on US household inflation expectations
dc.contributor.authorChao, Shih-Kang
dc.contributor.authorHärdle, Wolfgang Karl
dc.contributor.authorSheen, Jeffrey
dc.contributor.authorTrück, Stefan
dc.contributor.authorWang, Ben Zhe
dc.date.accessioned2018-01-11T09:54:04Z
dc.date.available2018-01-11T09:54:04Z
dc.date.issued2017-05-29
dc.identifier.urihttp://edoc.hu-berlin.de/18452/19410
dc.description.abstractAnalysis of monthly disaggregated data from 1978 to 2016 on US household in ation expectations reveals that exposure to news on in ation and monetary policy helps to explain in ation expectations. This remains true when controlling for household personal characteristics, their perceptions of the effectiveness of government policies, their expectations of future interest rates and unemployment, and their sentiment levels. We find evidence of an asymmetric impact of news on in ation expectations particularly after 1983, with news on rising in ation and easier monetary policy having a stronger effect in comparison to news on lowering in ation and tightening monetary policy.eng
dc.language.isoeng
dc.publisherHumboldt-Universität zu Berlin
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/
dc.subjectIn ation expectationseng
dc.subjectnews impacteng
dc.subjectforecast disagreementeng
dc.subject.ddc330 Wirtschaft
dc.titleThe impact of news on US household inflation expectations
dc.typeworkingPaper
dc.identifier.urnurn:nbn:de:kobv:11-110-18452/19410-7
dc.identifier.doihttp://dx.doi.org/10.18452/18700
local.edoc.container-titleSonderforschungsbereich 649: Ökonomisches Risiko
local.edoc.pages14
local.edoc.type-nameDiskussionspapier
local.edoc.institutionWirtschaftswissenschaftliche Fakultät
local.edoc.container-typeseries
local.edoc.container-type-nameSchriftenreihe
local.edoc.container-volume2017
local.edoc.container-issue11
local.edoc.container-erstkatid2195055-6

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