000			02525cam a22003737 4500
001			w27836
003			NBER
005			20211020103525.0
006			m o d
007			cr cnu||||||||
008			210910s2020 mau fo 000 0 eng d
100	1		_aCoibion, Olivier. _98255
245	1	0	_aAverage Inflation Targeting and Household Expectations / _cOlivier Coibion, Yuriy Gorodnichenko, Edward S. Knotek II, Raphael Schoenle.
260			_aCambridge, Mass. _bNational Bureau of Economic Research _c2020.
300			_a1 online resource: _billustrations (black and white);
490	1		_aNBER working paper series _vno. w27836
500			_aSeptember 2020.
520	3		_aUsing a daily survey of U.S. households, we study how the Federal Reserve's announcement of its new strategy of average inflation targeting affected households' expectations. Starting with the day of the announcement, there is a very small uptick in the minority of households reporting that they had heard news about monetary policy relative to prior to the announcement, but this effect fades within a few days. Those hearing news about the announcement do not seem to have understood the announcement: they are no more likely to correctly identify the Fed's new strategy than others, nor are their expectations different. When we provide randomly selected households with pertinent information about average inflation targeting, their expectations still do not change in a different way than when households are provided with information about traditional inflation targeting.
530			_aHardcopy version available to institutional subscribers
538			_aSystem requirements: Adobe [Acrobat] Reader required for PDF files.
538			_aMode of access: World Wide Web.
588	0		_aPrint version record
690		7	_aE3 - Prices, Business Fluctuations, and Cycles _2Journal of Economic Literature class.
690		7	_aE4 - Money and Interest Rates _2Journal of Economic Literature class.
690		7	_aE5 - Monetary Policy, Central Banking, and the Supply of Money and Credit _2Journal of Economic Literature class.
700	1		_aGorodnichenko, Yuriy. _927289
700	1		_aII, Edward S. Knotek.
700	1		_aSchoenle, Raphael.
710	2		_aNational Bureau of Economic Research.
830		0	_aWorking Paper Series (National Bureau of Economic Research) _vno. w27836.
856	4	0	_uhttps://www.nber.org/papers/w27836
856			_yAcceso en línea al DOI _uhttp://dx.doi.org/10.3386/w27836
942			_2ddc _cW-PAPER
999			_c320287 _d278849