Arbeitspapier
Tell me something I don't already know: Learning in low- and high-inflation settings
Using randomized control trials (RCT) applied over time in different countries, we study how the economic environment affects how agents learn from new information. We show that as inflation has risen in developed economies, both households and firms have become more attentive and informed about inflation, leading them to respond less to exogenously provided information about inflation and monetary policy. This observation holds for both firms and households. We also study the effects of RCTs in countries where inflation has been consistently high (Uruguay) and low (New Zealand) as well as what happens when the same agents are repeatedly provided information in both low- and high-inflation environments (Italy). Our results broadly support models in which inattention is an endogenous outcome that depends on the economic environment.
- Language
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Englisch
- Bibliographic citation
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Series: Working Paper ; No. 2023-8
- Classification
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Wirtschaft
- Subject
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inattention
RCTs
inflation expectation
Inflationserwartung
Wirtschaftsinformation
Geldpolitik
Rationale Erwartung
Randomisierte kontrollierte Studie
- Event
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Geistige Schöpfung
- (who)
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Weber, Michael
Candia, Bernardo
Ropele, Tiziano
Lluberas, Rodrigo
Frache, Serafin
Meyer, Brent
Kumar, Saten
Gorodnichenko, Yuriy
Georgarakos, Dimitris
Coibion, Olivier
Kenny, Geoff
- Event
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Veröffentlichung
- (who)
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Federal Reserve Bank of Atlanta
- (where)
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Atlanta, GA
- (when)
-
2023
- DOI
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doi:10.29338/wp2023-08
- Handle
- Last update
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10.03.2025, 11:45 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Weber, Michael
- Candia, Bernardo
- Ropele, Tiziano
- Lluberas, Rodrigo
- Frache, Serafin
- Meyer, Brent
- Kumar, Saten
- Gorodnichenko, Yuriy
- Georgarakos, Dimitris
- Coibion, Olivier
- Kenny, Geoff
- Federal Reserve Bank of Atlanta
Time of origin
- 2023