Raising inflation expectations may depress growth – Jackson Hole paper
More nuanced communication would help public understand state of the economy, say researchers
Central banks using a communication strategy to raise inflation expectations and stimulate economic activity may end up worsening the situation, a paper presented at the Jackson Hole 2020 conference finds.
A communication policy aiming to raise inflation expectations could “backfire”, co-author Yuriy Gorodnichenko told the conference. Central banks needed to adopt a more nuanced approach to using inflation expectations to stimulate economy activity, he said.
In the paper, Gorodnichenko and his
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe
You are currently unable to print this content. Please contact info@centralbanking.com to find out more.
You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@centralbanking.com
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@centralbanking.com
More on Communication
The frontiers of AI in central bank communications
Comms experts assess technology's value in video production, message generation and more
‘No compelling case’ for a Eurosystem dot-plot – Nagel
Bundesbank president says uncertainty needs to be communicated more clearly
Alpana Killawala on communications under six governors at the RBI
Former RBI comms chief speaks about the importance of strategic communications, courting the media and open mouth operations
Costa: communication was key during high inflation period
Chile’s central bank governor says explaining price rises to public brought new challenges
ECB’s Cipollone positive about September rate cut
Data “confirms our direction of travel”, board member says
Communications Benchmarks 2024 – model banks analysis
Additional breakdowns of the data highlight differences in emerging market and advanced economies
Communications Benchmarks 2024 report – emerging trends
Benchmarks highlight increased use of traditional media, comms staff’s shrunken roles in policy-making and exploration into AI
Most comms teams aim for social media boost in 2025
Top priorities for next year align with 2023 benchmark findings