Replication data for: Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence
Principal Investigator(s): View help for Principal Investigator(s) Rüdiger Bachmann; Tim O. Berg; Eric R. Sims
Version: View help for Version V1
Name | File Type | Size | Last Modified |
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replication | 10/13/2019 02:54:AM | ||
LICENSE.txt | text/plain | 14.6 KB | 10/12/2019 10:54:PM |
Project Citation:
Bachmann, Rüdiger, Berg, Tim O., and Sims, Eric R. Replication data for: Inflation Expectations and Readiness to Spend: Cross-Sectional Evidence. Nashville, TN: American Economic Association [publisher], 2015. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-13. https://doi.org/10.3886/E114585V1
Project Description
Summary:
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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)
Scope of Project
JEL Classification:
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D12 Consumer Economics: Empirical Analysis
D84 Expectations; Speculations
E21 Macroeconomics: Consumption; Saving; Wealth
E31 Price Level; Inflation; Deflation
E52 Monetary Policy
D12 Consumer Economics: Empirical Analysis
D84 Expectations; Speculations
E21 Macroeconomics: Consumption; Saving; Wealth
E31 Price Level; Inflation; Deflation
E52 Monetary Policy
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