Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/306713 
Erscheinungsjahr: 
2024
Schriftenreihe/Nr.: 
Bank of Canada Staff Working Paper No. 2024-44
Verlag: 
Bank of Canada, Ottawa
Zusammenfassung: 
We disentangle the channels through which inflation expectations affect household spending. We conduct a survey featuring hypothetical scenarios that generate a controlled increase in inflation expectations. For 74% of households, current spending is unresponsive, typically due to fixed budget plans or irrelevance of inflation expectations. About 20% of households reduce spending, often citing wealth effects, nominal income rigidity, and inflation hedging. Only 6% increase spending, mostly due to intertemporal substitution or stockpiling. Respondents who expect other economic variables to deteriorate are more likely to reduce spending. Our findings suggest manipulating inflation expectations to boost consumer spending may not be an effective policy tool.
Schlagwörter: 
Central bank research
Inflation and prices
Inflation targets
Monetary policy
Monetary policy transmission
JEL: 
D15
D84
E2
E52
E7
Persistent Identifier der Erstveröffentlichung: 
Dokumentart: 
Working Paper
Erscheint in der Sammlung:

Datei(en):
Datei
Größe
2.28 MB





Publikationen in EconStor sind urheberrechtlich geschützt.