Monetary Policy Communications and their Effects on Household Inflation Expectations

Last registered on December 06, 2018
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Pre-Trial

Trial Information

General Information

Title
Monetary Policy Communications and their Effects on Household Inflation Expectations
RCT ID
AEARCTR-0003649
Initial registration date
December 05, 2018

Initial registration date is when the trial was registered.

It corresponds to when the registration was submitted to the Registry to be reviewed for publication.

First published
December 06, 2018, 8:37 AM EST

First published corresponds to when the trial was first made public on the Registry after being reviewed.

Locations

Country
United States of America
Region

Primary Investigator

Name
Olivier Coibion
Affiliation
University of Texas at Austin
Contact Primary Investigator

Other Primary Investigator(s)

PI Name
Michael Weber
PI Affiliation
University of Chicago
Contact Investigator
PI Name
Yuriy Gorodnichenko
PI Affiliation
University of California at Berkeley
Contact Investigator

Additional Trial Information

Status
On going
Start date
2018-04-30
End date
2019-01-31
Keywords
Other
Additional Keywords
Inflation expectations, monetary policy, communications.
JEL code(s)
E31, C83, D84
Secondary IDs
Abstract
We study how different forms of communication can influence inflation expectations of individuals in a randomized controlled trial. We first solicit individuals’ distribution of inflation expectations and provide eight different forms of information regarding inflation. We then study how these different types of information affect the beliefs of individuals over time relative to those in control groups that either receive no information or irrelevant information.
External Link(s)

Registration Citation

Citation
Coibion, Olivier, Yuriy Gorodnichenko and Michael Weber. 2018. "Monetary Policy Communications and their Effects on Household Inflation Expectations." AEA RCT Registry. December 06. https://doi.org/10.1257/rct.3649-1.0
Former Citation
Coibion, Olivier, Yuriy Gorodnichenko and Michael Weber. 2018. "Monetary Policy Communications and their Effects on Household Inflation Expectations." AEA RCT Registry. December 06. https://www.socialscienceregistry.org/trials/3649/history/38448
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2018-04-30
Intervention End Date
2018-06-30

Primary Outcomes

Primary Outcomes (end points)
Inflation expectations
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
We study how different forms of communication can influence inflation expectations of individuals in a randomized controlled trial. We first solicit individuals’ distribution of inflation expectations and provide eight different forms of information regarding inflation. We then study how these different types of information affect the beliefs of individuals over time relative to those in control groups that either receive no information or irrelevant information.
Experimental Design Details
Randomization Method
Randomization done by private contracting firm that implements survey.
Randomization Unit
individual.
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
no clusters
Sample size: planned number of observations
20,000 individuals
Sample size (or number of clusters) by treatment arms
2200 individuals per treatment group
Minimum detectable effect size for main outcomes (accounting for sample design and clustering)
Supporting Documents and Materials
IRB

Institutional Review Boards (IRBs)

IRB Name
IRB Approval Date
IRB Approval Number
Analysis Plan

Post-Trial

Post Trial Information

Study Withdrawal

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Intervention

Is the intervention completed?
No
Data Collection Complete
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials