【主题】Heterogeneity in Household Inflation Expectations: Policy Implications
【报告人】Woong Yong Park（副教授，国立首尔大学）
【时间】2024年5月8日周三13:30-15:00
【地点】高等研究院楼232会议室
【语言】英文
【摘要】We empirically characterize the heterogeneity in the conditional distribution of household inflation expectations across the demographic groups using the Survey of Consumer Expectations data and also investigate how the monetary policy shock affects the conditional distribution. It is found that, across all the groups, the peak of the group-specific distribution of household inflation expectations aligns closely with the 2% target by the Federal Reserve, but there is substantial heterogeneity in both the left and right tails, primarily on the right. In response to a contractionary monetary policy shock, households overall adjust their inflation expectations significantly downward, which implies that monetary policy is effective in stabilizing inflation expectations.
【报告人简介】Woong Yong Park is an Associate Professor in the Department of Economics, Seoul National University. He received his Ph.D. in Economics from the Princeton University. Prof. Woong Yong Park’s research focuses on macroeconomics and monetary economics. His research has been published at leading academic journals such as American Economic Journal: Macroeconomics, Review of Economics and Statistics, Journal of International Economics and Journal of Monetary Economics.
