Dmitri Vinogradov at ‘Conference on Household Expectations’
A joint conference of the central banks of Germany and France was held on September 27th and 28th, 2019 at the Bundesbank in Frankfurt. It was dedicated to the empirical analysis of survey data on macroeconomic household expectations.
During the conference, papers analyzing the results of new household surveys – from the relationship between monetary policy and inflation expectations to an evaluation of the role of IQ in forming expectations – were presented.
Dmitri Vinogradov, Professor at HSE-Perm’s School of Economics and Finance, and Associate Professor at the Adam Smith Business School, University of Glasgow, presented his paper on the influence of official announcements of the Central Bank on forming inflation expectations among the population. The paper was prepared together with Michael Lamla from Leuphana University, Lüneburg, Germany, and published in the ‘Journal of Monetary Economics’.
In addition, Dmitri Vinogradov was one of the official opponents on the paper of researchers from the Bank of France concerning the relationship between inflation expectations and consumption of durable goods. The full programme of the conference is available via this link.
Until recently, the attention of researchers in economics and finance was focused on the expectations of professionals in the financial market and other experts, while very little was known about the expectations of common people. From a theoretical point of view, it is household consumption of goods and services that creates a major part of GDP and is a key component of economic growth