登入選單
返回Google圖書搜尋
其他書名
Evidence from the COVID-19 Pandemic
出版SSRN, 2020
URLhttp://books.google.com.hk/books?id=r8rfzwEACAAJ&hl=&source=gbs_api
註釋This paper studies how inflation beliefs reported in the New York Fed's Survey of Consumer Expectations have evolved since the start of the COVID-19 pandemic. We find that household inflation expectations responded slowly and mostly at the short-term horizon. In contrast, the data reveal immediate and unprecedented increases in individual inflation uncertainty and in inflation disagreement across respondents. We find evidence of a strong polarization in inflation beliefs and we show differences across demographic groups. Finally, we document a strong link, consistent with precautionary saving, between inflation uncertainty and how respondents used the stimulus checks they received as part of the 2020 CARES Act.