Recent Findings in Economics and Statistics Described by Researchers from Federal Reserve Bank of Cleveland (Fireside Chats: Communication and Consumers’ Expectations In the Great Depression): Economics – Economics and Statistics

Economics Daily Report

2024 AUG 08 (NewsRx) -- By a News Reporter-Staff News Editor at Economics Daily Report -- Researchers detail new data in Economics - Economics and Statistics. According to news originating from Cleveland, Ohio, by NewsRx editors, the research stated, “This paper shows how policy announcements can be used to manage expectations. Using regional variation in radio exposure, I evaluate the impact of FDR’s 1935 Fireside Chat, in which he showcased the introduction of important social policies, establishing a new expansionary cycle of the New Deal.”

Our news journalists obtained a quote from the research from the Federal Reserve Bank of Cleveland, “I document that cities with higher exposure to the announcement exhibited a significant increase in spending on durable goods. The estimated effect is consistent with changes in expectations in line with the policies announced.”

According to the news editors, the research concluded: “This paper shows the power of communication as a policy tool.”

This research has been peer-reviewed.

For more information on this research see: Fireside Chats: Communication and Consumers’ Expectations In the Great Depression. Review of Economics and Statistics, 2024;106(4):997-1011. Review of Economics and Statistics can be contacted at: Mit Press, One Rogers St, Cambridge, MA 02142-1209, USA.

The news correspondents report that additional information may be obtained from Mathieu Pedemonte, Federal Reserve Bank of Cleveland, Cleveland, OH 44114, United States.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1162/rest_a_01200. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.