Does Policy Communication during COVID-19 Work?

Arbeitspapier

Using a large-scale survey of U.S. households during the Covid-19 pandemic, we study how new information about fiscal and monetary policy responses to the crisis affects households' expectations. We provide random subsets of participants in the Nielsen Homescan panel with different combinations of information about the severity of the pandemic, recent actions by the Federal Reserve, stimulus measures, as well as recommendations from health officials. This experiment allows us to assess to what extent these policy announcements alter the beliefs and spending plans of households. In short, they do not, contrary to the powerful effects they have in standard macroeconomic models.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IZA Discussion Papers ; No. 13355

Classification and Topics

• Classification: Wirtschaft ; Price Level; Inflation; Deflation ; Survey Methods; Sampling Methods ; Expectations; Speculations ; Retirement; Retirement Policies
• Subject: subjective expectations ; fiscal policy ; monetary policy ; COVID-19 ; surveys

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Coibion, Olivier ; Gorodnichenko, Yuriy ; Weber, Michael
• Event: Veröffentlichung
• (who): Institute of Labor Economics (IZA)
• (where): Bonn
• (when): 2020

Further information

• Handle: http://hdl.handle.net/10419/223797
• Last update: 10.03.2025, 11:41 AM CET