STUCK IN THE SEVENTIES: GAS PRICES AND CONSUMER SENTIMENT

被引：33

作者：

Binder, Carola ^{[1
]}

Makridis, Christos ^{[2
]}

机构：

[1] Haverford Coll, Haverford, PA 19041 USA

[2] MIT, Sloan Sch Management, Cambridge, MA 02139 USA

来源：

REVIEW OF ECONOMICS AND STATISTICS | 2022年 / 104卷 / 02期

关键词：

INFLATION-EXPECTATIONS; US ECONOMY; OIL; INFORMATION; DEMAND; SHOCKS; MACROECONOMY; EXPERIENCES; RESPONSES; INCREASES;

D O I：

10.1162/rest_a_00944

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Using daily consumer survey data, we analyze the transmission of gas prices to consumer beliefs and expectations about the economy. We exploit the high frequency and geographic disaggregation of our data set to facilitate identification. Consumer sentiment becomes more pessimistic with rising gas prices. This effect is strongest for consumers who lived through the recessionary oil crises in the 1970s, consistent with models of learning from personal experience. For younger respondents, the sensitivity of sentiment to gas prices is stronger for college-educated respondents. Sensitivity is also higher in states with greater gas expenditures per capita.

引用

页码：293 / 305

页数：13

共 74 条

[1] What do consumers believe about future gasoline prices? [J].