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Project Citation: 

D’Acunto, Francesco, Hoang, Daniel, Paloviita, Maritta, and Weber, Michael. Replication data for: Cognitive Abilities and Inflation Expectations. Nashville, TN: American Economic Association [publisher], 2019. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-07.

Project Description

Summary:  View help for Summary Cognitive abilities help explain the large cross-sectional variation in inflation expectations at the household level. But which type of cognitive abilities are important? We find that not only quantitative abilities but also logical and verbal abilities are important to explain the accuracy and plausibility of households' inflation expectations. We discuss the channels through which different forms of cognition might shape households' abilities to forecast future macroeconomic variables. We also draw implications for the effectiveness of policies that aim to manage households' expectations.

Scope of Project

JEL Classification:  View help for JEL Classification
      D12 Consumer Economics: Empirical Analysis
      D84 Expectations; Speculations
      E31 Price Level; Inflation; Deflation
      E37 Prices, Business Fluctuations, and Cycles: Forecasting and Simulation: Models and Applications

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