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The Optimal Monetary Policy Response to Belief Distortions: Model-Free Evidence

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Abstract

Data suggest that monetary policy should ease to offset inflation over-pessimism among households.

Suggested Citation

  • Jonathan Adams & Symeon Taipliadis, 2025. "The Optimal Monetary Policy Response to Belief Distortions: Model-Free Evidence," Research Working Paper RWP 25-04, Federal Reserve Bank of Kansas City.
    • Handle: RePEc:fip:fedkrw:101182
    DOI: 10.18651/RWP2025-04.
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    More about this item

    Keywords

    monetary policy; inflation; household expectations;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E30 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - General (includes Measurement and Data)
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • E70 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - General

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