{"id":"https://openalex.org/W4376604591","doi":"https://doi.org/10.3386/w31232","title":"Central Bank Communication and House Price Expectations","display_name":"Central Bank Communication and House Price Expectations","publication_year":2023,"publication_date":"2023-05-01","ids":{"openalex":"https://openalex.org/W4376604591","doi":"https://doi.org/10.3386/w31232"},"language":"en","primary_location":{"id":"doi:10.3386/w31232","doi":"https://doi.org/10.3386/w31232","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w31232","pdf_url":"https://doi.org/10.3386/w31232","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"volume":null,"type":"report","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://doi.org/10.3386/w31232","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5086148635","display_name":"Carola Conces Binder","orcid":"https://orcid.org/0000-0001-5694-2070","observed_orcids":["https://orcid.org/0000-0001-5694-2070"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I155707491","display_name":"Haverford College","ror":"https://ror.org/04fnrxr62","country_code":"US","type":"education","lineage":["https://openalex.org/I155707491"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Carola Binder","raw_affiliation_strings":["Department of Economics Haverford College 754 College Ave Apt 1 Haverford , PA 19041 and","Department of Economics Haverford College 754 College Ave Apt 1 Haverford, PA 19041 and NBER","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Economics Haverford College 754 College Ave Apt 1 Haverford , PA 19041 and","institution_ids":["https://openalex.org/I155707491"]},{"raw_affiliation_string":"Department of Economics Haverford College 754 College Ave Apt 1 Haverford, PA 19041 and NBER","institution_ids":["https://openalex.org/I155707491"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"middle","author":{"id":"https://openalex.org/A5016522551","display_name":"Pei Kuang","orcid":"https://orcid.org/0009-0009-6404-7864","observed_orcids":["https://orcid.org/0009-0009-6404-7864","https://orcid.org/0009-0004-9153-2746","https://orcid.org/0000-0003-3154-5161"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I155707491","display_name":"Haverford College","ror":"https://ror.org/04fnrxr62","country_code":"US","type":"education","lineage":["https://openalex.org/I155707491"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Pei Kuang","raw_affiliation_strings":["University House 116 Edgbaston Park Road","Department of Economics Haverford College 754 College Ave Apt 1 Haverford, PA 19041 and NBER","NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"University House 116 Edgbaston Park Road","institution_ids":[]},{"raw_affiliation_string":"Department of Economics Haverford College 754 College Ave Apt 1 Haverford, PA 19041 and NBER","institution_ids":["https://openalex.org/I155707491"]},{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5014878449","display_name":"Li Tang","orcid":"https://orcid.org/0000-0001-7119-3186","observed_orcids":["https://orcid.org/0000-0001-7119-3186"]},"institutions":[{"id":"https://openalex.org/I1321305853","display_name":"National Bureau of Economic Research","ror":"https://ror.org/04grmx538","country_code":"US","type":"nonprofit","lineage":["https://openalex.org/I1321305853"]},{"id":"https://openalex.org/I79619799","display_name":"University of Birmingham","ror":"https://ror.org/03angcq70","country_code":"GB","type":"education","lineage":["https://openalex.org/I79619799"]}],"countries":["GB","US"],"is_corresponding":false,"raw_author_name":"Li Tang","raw_affiliation_strings":["NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","University of Birmingham UK B15 2TY United Kingdom"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"NATIONAL BUREAU OF ECONOMIC RESEARCH 1050 Massachusetts Avenue Cambridge, MA 02138","institution_ids":["https://openalex.org/I1321305853"]},{"raw_affiliation_string":"University of Birmingham UK B15 2TY United Kingdom","institution_ids":["https://openalex.org/I79619799"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":3,"corresponding_author_ids":[],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":13,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9740999937057495,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10007","display_name":"Monetary Policy and Economic Impact","score":0.9740999937057495,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10632","display_name":"Housing Market and Economics","score":0.011900000274181366,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.00559999980032444,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/central-bank-communication","display_name":"central bank communication","score":0.871999979019165},{"id":"https://openalex.org/keywords/housing-price-expectations","display_name":"housing price expectations","score":0.9929999709129333},{"id":"https://openalex.org/keywords/interest-rate-increase","display_name":"interest rate increases","score":0.8460000157356262},{"id":"https://openalex.org/keywords/nonverbal-communication","display_name":"nonverbal communication","score":0.7710000276565552},{"id":"https://openalex.org/keywords/customer-expectations","display_name":"customer expectations","score":0.6800000071525574},{"id":"https://openalex.org/keywords/online-surveys","display_name":"online surveys","score":0.5120000243186951}],"concepts":[{"id":"https://openalex.org/C2992949716","wikidata":"https://www.wikidata.org/wiki/Q512599","display_name":"House price","level":2,"score":0.4899281859397888},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4040467143058777},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3109620213508606},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.27919989824295044}],"mesh":[],"locations_count":2,"locations":[{"id":"doi:10.3386/w31232","doi":"https://doi.org/10.3386/w31232","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w31232","pdf_url":"https://doi.org/10.3386/w31232","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},{"id":"pmh:oai:RePEc:nbr:nberwo:31232","doi":null,"is_oa":false,"landing_page_url":"http://www.nber.org/papers/w31232.pdf","pdf_url":"http://www.nber.org/papers/w31232.pdf","source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"preprint"}],"best_oa_location":{"id":"doi:10.3386/w31232","doi":"https://doi.org/10.3386/w31232","is_oa":true,"landing_page_url":"https://doi.org/10.3386/w31232","pdf_url":"https://doi.org/10.3386/w31232","source":{"id":"https://openalex.org/S2809516038","display_name":"National Bureau of Economic Research","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":["https://openalex.org/P4322614461"],"host_organization_lineage_names":["National Bureau of Economic Research"],"type":"repository"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"National Bureau of Economic Research","raw_type":"report"},"sustainable_development_goals":[],"study_designs":[{"display_name":"Observational Study","id":"https://openalex.org/study-designs/observational-study"}],"awards":[],"funders":[{"id":"https://openalex.org/F4320320339","display_name":"University of Birmingham","ror":"https://ror.org/03angcq70"},{"id":"https://openalex.org/F4320336061","display_name":"Research England","ror":"https://ror.org/02wxr8x18"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4376604591.pdf","grobid_xml":"https://content.openalex.org/works/W4376604591.grobid-xml"},"referenced_works_count":53,"referenced_works":["https://openalex.org/W1483737613","https://openalex.org/W1533990321","https://openalex.org/W1575829945","https://openalex.org/W1578180415","https://openalex.org/W2033861818","https://openalex.org/W2052115379","https://openalex.org/W2112449629","https://openalex.org/W2119298903","https://openalex.org/W2124532652","https://openalex.org/W2151755050","https://openalex.org/W2272326785","https://openalex.org/W2276540433","https://openalex.org/W2301926123","https://openalex.org/W2544489044","https://openalex.org/W2613648890","https://openalex.org/W2753024918","https://openalex.org/W2763519491","https://openalex.org/W2914323996","https://openalex.org/W3001830050","https://openalex.org/W3008046725","https://openalex.org/W3009827341","https://openalex.org/W3038619515","https://openalex.org/W3045252863","https://openalex.org/W3087603509","https://openalex.org/W3097327684","https://openalex.org/W3121222283","https://openalex.org/W3121431623","https://openalex.org/W3122044544","https://openalex.org/W3122562732","https://openalex.org/W3123155283","https://openalex.org/W3123211482","https://openalex.org/W3123328875","https://openalex.org/W3124538971","https://openalex.org/W3125497144","https://openalex.org/W3125983586","https://openalex.org/W3150817279","https://openalex.org/W3151199821","https://openalex.org/W3191356374","https://openalex.org/W3198947164","https://openalex.org/W4213038271","https://openalex.org/W4231237907","https://openalex.org/W4285063850","https://openalex.org/W4285555097","https://openalex.org/W4300127392","https://openalex.org/W4319999557","https://openalex.org/W4327632556","https://openalex.org/W4383959877","https://openalex.org/W6628812446","https://openalex.org/W6632730419","https://openalex.org/W6768875918","https://openalex.org/W6772593955","https://openalex.org/W6780039587","https://openalex.org/W6792669487"],"related_works":["https://openalex.org/W7106515831","https://openalex.org/W3122627571","https://openalex.org/W7112572113","https://openalex.org/W7212134258","https://openalex.org/W4318174421","https://openalex.org/W7103990782","https://openalex.org/W7116667223","https://openalex.org/W3047969019","https://openalex.org/W4403451546","https://openalex.org/W3121299585"],"abstract_inverted_index":{"We":[0],"study":[1],"how":[2],"US":[3],"consumers'":[4],"house":[5,34,61,81,93],"price":[6,35,62,82,94],"expectations":[7,36],"respond":[8],"to":[9,29,60,92],"verbal":[10],"and":[11,70],"non-verbal":[12],"communication":[13,23],"about":[14,24,43],"interest":[15,25],"rate":[16,26,44,54],"changes":[17],"using":[18],"several":[19],"large":[20,38,57],"online":[21],"surveys.Verbal":[22],"hikes":[27,45],"leads":[28],"little":[30],"response":[31],"of":[32,51],"average":[33],"but":[37],"heterogeneity":[39],"among":[40],"household":[41],"groups.Communication":[42],"combined":[46],"with":[47,88],"a":[48],"simple":[49],"explanation":[50],"the":[52,74],"mortgage":[53],"channel":[55],"causes":[56],"downward":[58],"revisions":[59,91],"expectations.Consumers":[63],"interpret":[64],"heterogeneously":[65],"Chair":[66],"Powell's":[67],"voice":[68],"tone":[69],"body":[71],"language":[72],"at":[73],"press":[75],"conference":[76],"which":[77],"significantly":[78],"influence":[79],"their":[80],"expectations.More":[83],"negative":[84],"evaluations":[85],"are":[86],"associated":[87],"larger":[89],"upward":[90],"expectations.":[95]},"counts_by_year":[{"year":2026,"cited_by_count":2},{"year":2025,"cited_by_count":7},{"year":2024,"cited_by_count":3},{"year":2023,"cited_by_count":1}],"updated_date":"2026-10-29T09:56:32.521200","created_date":"2023-05-17T00:00:00"}