Partisan expectations and COVID era inflation: A comment

IF 4.3 2区经济学 Q1 BUSINESS, FINANCE

Journal of Monetary Economics Pub Date : 2024-11-01 DOI:10.1016/j.jmoneco.2024.103659

Felix Aidala , Olivier Armantier , Giorgio Topa , Wilbert van der Klaauw

引用次数: 0

Abstract

In this note we provide comments on the paper “Partisan Expectations and COVID Era Inflation” (2024) by Binder, Kamdar, and Ryngaert (BKR). We complement BKR’s analysis by bringing to bear new evidence from the New York Fed’s Survey of Consumer Expectations. Our analysis confirms BKR’s results of a relationship between political affiliation and inflation expectations. However, we find no clear evidence that Republicans’ inflation expectations became unanchored during the Covid-19 era. We also offer some commentary on BKR’s MSA-level empirical Phillips curve analysis and conclude with some observations on how BKR’s paper contributes to the literature on consumers’ inflation expectations.

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党派预期与 COVID 时代的通货膨胀：评论

在本说明中，我们对 Binder、Kamdar 和 Ryngaert（BKR）的论文 "党派预期与 COVID 时代的通货膨胀"（2024）进行了评论。我们利用纽约联储消费者预期调查的新证据对 BKR 的分析进行了补充。我们的分析证实了 BKR 关于政治派别与通胀预期之间关系的结果。不过，我们没有发现明确的证据表明共和党人的通胀预期在科维德-19 时代变得不稳定。我们还对 BKR 的 MSA 级实证菲利普斯曲线分析进行了一些评论，最后就 BKR 的论文对消费者通胀预期文献的贡献提出了一些看法。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Monetary Economics Multiple-

CiteScore

7.20

自引率

4.90%

发文量

审稿时长

74 days

期刊介绍： The profession has witnessed over the past twenty years a remarkable expansion of research activities bearing on problems in the broader field of monetary economics. The strong interest in monetary analysis has been increasingly matched in recent years by the growing attention to the working and structure of financial institutions. The role of various institutional arrangements, the consequences of specific changes in banking structure and the welfare aspects of structural policies have attracted an increasing interest in the profession. There has also been a growing attention to the operation of credit markets and to various aspects in the behavior of rates of return on assets. The Journal of Monetary Economics provides a specialized forum for the publication of this research.