Comment on No firm is an island? How industry conditions shape firms' expectations by Philippe Andrade, Olivier Coibion, Erwan Gautier and Yuriy Gorodnichenko

• 成果类型: Editorial Material
• 署名作者: Salle, Isabelle
• 署名单位: Bank of Canada; University of Amsterdam; Tinbergen Institute
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/j.jmoneco.2021.06.003
• 发表日期: 2022
• 页码: 57-61
• 关键词: Information rigidities; expectations; survey data; Experimental macroeconomics

摘要

Andrade et al. analyze the data from a large panel of firms and show how sector-specific shocks erroneously influence firms' outlooks about the aggregate economy. This paper is part of a broader research agenda that has extensively documented the existence of information rigidities using data from large-scale surveys of households and firms. This comment discusses the implications of this research agenda for central banking in light of a complementary empirical method, namely laboratory experiments, and their use in informing macroeconomic policies. (c) 2021 Elsevier B.V. All rights reserved.