Central banks are increasingly reaching out to the general public to motivate and explain
their monetary policy actions. One major aim of this outreach is to guide inflation …

Central banks are increasingly reaching out to the general public to motivate and explain
their monetary policy actions. One major aim of this outreach is to ensure accountability and …

We study how different forms of communication influence inflation expectations in a
randomized controlled trial using nearly 20,000 US individuals. We elicit individuals' inflation …

We study people's subjective models of the macroeconomy and shed light on their
attentional foundations. To do so, we measure beliefs about the effects of macroeconomic …

Using a representative online panel from the United States, we examine how individuals'
macroeconomic expectations causally affect their personal economic prospects and their …

New surveys provide a wealth of information on how economic agents form their
expectations and how those expectations shape their decisions. We review recent evidence …

Central banks emphasize the use of communication as a tool of monetary policy. As central
banks increasingly recognize that low public informedness limits their ability to communicate …

We estimate perceptions about the Federal Reserve's monetary policy rule from panel data
on professional forecasts of interest rates and macroeconomic conditions. The perceived …

Using a daily survey of US households, we study how the Federal Reserve's announcement
of its new strategy of average inflation targeting affected households' expectations. Starting …

Little is known on how and whether central bank announcements affect consumers' beliefs
about policy-relevant economic figures. This paper focuses on consumers' perceptions and …