家庭视角下的货币政策:认知、反应与传导渠道(英).pdfVIP

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家庭视角下的货币政策:认知、反应与传导渠道(英).pdf

BISWorkingPapers

No1354

Monetarypolicyaccordingto

households:perceptions,

reactions,andchannels

byFrancescoGrigoli,DamianoSandri,Yuriy

GorodnichenkoandOlivierCoibion

MonetaryandEconomicDepartment

June2026

JELclassification:E3,E4,E5

Keywords:monetarypolicytransmission,household

expectations,inflationexpectations,consumption,

portfoliochoice,surveyevidence

BISWorkingPapersarewrittenbymembersoftheMonetaryandEconomic

DepartmentoftheBankforInternationalSettlements,andf

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