by Francesco Grigoli, Damiano Sandri, Yuriy Gorodnichenko, Olivier Coibion<br />This paper studies how households perceive the transmission of monetary policy and how these perceptions affect their decisions. Using a large-scale survey of over 25,000 U.S. households combined with randomized information treatments, we measure how households expect changes in the federal funds rate to affect economic conditions and their own behavior.
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