インフレと金融政策のトレードオフに関する家計の選好

2024年5月公表のFRB金融経済ディスカッションシリーズ。原題は「Households' Preferences Over Inflation and Monetary Policy Tradeoffs」で、著者はDamjan Pfajfar and Fabian Winkler。以下はその要旨。We document novel facts about U.S. household preferences over inflation and monetary policy. Many households are highly attentive to news about monetary policy and to interest rates. The median household perceives the Federal Reserve's inflation target to be three percent, but would prefer it to be lower. Quantifying the tradeoff between inflation and unemployment, we find an average acceptable sacrifice ratio of 0.6, implying that households are

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