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Average Inflation Targeting

Last registered on September 09, 2020
View Trial History

Pre-Trial

Trial Information

General Information

Title
Average Inflation Targeting
RCT ID
AEARCTR-0006425
Initial registration date
September 08, 2020

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
September 09, 2020, 11:21 AM EDT

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
Yuriy Gorodnichenko
PI Affiliation
PI Name
Edward Knotek
PI Affiliation
PI Name
Raphael Schoenle
PI Affiliation

Additional Trial Information

Status
Completed
Start date
2020-08-25
End date
2020-09-05
Keywords
Other
Additional Keywords
Inflation expectations, inflation targeting
JEL code(s)
E3
Secondary IDs
Abstract
We study how the provision of information to households about average inflation targeting vs inflation targeting affects inflation and other expectations.
External Link(s)

Registration Citation

Citation
Coibion, Olivier et al. 2020. "Average Inflation Targeting." AEA RCT Registry. September 09. https://doi.org/10.1257/rct.6425-1.1
Sponsors & Partners
Experimental Details

Interventions

Intervention(s)
Intervention Start Date
2020-08-26
Intervention End Date
2020-09-05

Primary Outcomes

Primary Outcomes (end points)
Inflation expectations and other economic expectations. Knowledge about monetary policy objectives.
Primary Outcomes (explanation)

Secondary Outcomes

Secondary Outcomes (end points)
Secondary Outcomes (explanation)

Experimental Design

Experimental Design
Survey participants are broken into three groups: one control and two treatment groups. One treatment group is provided information about standard inflation targeting. The other is provided information about average inflation targeting. Expectations are measured before and after treatments.
Experimental Design Details
Randomization Method
randomization done by survey firm.
Randomization Unit
individual
Was the treatment clustered?
No

Experiment Characteristics

Sample size: planned number of clusters
3000 individuals over three groups
Sample size: planned number of observations
3000 individuals
Sample size (or number of clusters) by treatment arms
~1000 in control and ~1000 in each of two treatments
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?
Yes
Intervention Completion Date
October 31, 2021, 12:00 +00:00
Data Collection Complete
Yes
Data Collection Completion Date
October 30, 2021, 12:00 +00:00
Final Sample Size: Number of Clusters (Unit of Randomization)
Was attrition correlated with treatment status?
No
Final Sample Size: Total Number of Observations
Final Sample Size (or Number of Clusters) by Treatment Arms
Data Publication

Data Publication

Is public data available?
No

Program Files

Program Files
Yes
Program Files URL
Reports, Papers & Other Materials

Relevant Paper(s)

Reports & Other Materials

Description
Published in JPE Macroeconomics 1(2): 403-446
Citation
Coibion, Olivier, Yuriy Gorodnichenko, Edward Knotek and Raphael Schoenle, 2023. "Average Inflation Targeting and Household Expectations," JPE Macroeconomics 1(2): 403-446.
URL
https://www.journals.uchicago.edu/doi/10.1086/722962