2023-09-17-美联储-房地产所有者对通货膨胀的厌恶程度降低了吗_来自消费者情绪和通胀预期的证据_46页_664kb

分析总结

• Real asset owners exhibit higher sensitivity to inflation expectations compared to other consumers, despite assets being potential inflation hedges.
• Negative correlation exists between inflation expectations and consumer sentiments, which remains significant after controlling for observed inflation.
• Factors contributing to the sensitivity gap include income lagging spending, economic outlook sensitivity, and stable inflation expectations among asset owners.
• Differences not explained by demographic factors like age, education, and income, but may relate to rational inattention and financial literacy.
• Results have implications for monetary policy and economic forecasts due to heterogeneity in consumer behavior.