On the morning of March 19, 2024, at the National Economics University, the E-PhD Program organized a seminar on the topic "Anchoring Household's Inflation Expectations when Inflation is High."
The seminar welcomed Dr. Giang Nghiem as the guest speaker, who works at the Institute for International Monetary and Financial Issues at Leibniz University Hannover, Germany. From the E-PhD Program's academic committee, the event was attended by Associate Professor Dr. Le Quang Canh – Standing Member of the Academic Committee; committee members including Associate Professor Dr. Bach Ngoc Thang from the Institute for Sustainable Development; doctoral students from both English and Vietnamese programs; and interested delegates.
Opening the seminar, Associate Professor Dr. Bach Ngoc Thang welcomed and thanked the guest speaker, faculty members, doctoral students from the program, and all interested attendees who participated in the seminar. He also introduced the speaker and outlined the issues to be discussed during the session.
This was followed by the presentation from guest speaker Giang Nghiem. His research fields encompass experimental economics, utilizing survey data to explore questions in behavioral macroeconomics, household finance, consumer inflation expectations, and central bank communication. His research has been published in the Journal of Economics and Statistics, European Journal of Political Economy, and World Development Journal.
During the seminar, guest speaker Giang Nghiem shared his research exploring communication strategies aimed at anchoring households' medium-term inflation expectations in high-inflation environments. The study conducted a randomized controlled trial (RCT) with a representative sample of 4,000 German consumers in early 2023, employing information treatments including qualitative statements from the ECB president and quantitative information about the ECB's inflation target as well as expected inflation. The research findings demonstrate that inflation forecasts are most effective, but combining information about inflation targets with qualitative statements also significantly improves anchoring. Treatment effects are particularly pronounced among respondents with high financial literacy and high trust in the central bank.
Following the speaker's presentation, delegates and doctoral students engaged in open discussion and dialogue.
Concluding the seminar, on behalf of the E-PhD Program, Associate Professor Dr. Le Quang Canh expressed gratitude to the speaker for taking time to engage and share research experiences. The seminar provided valuable knowledge for doctoral students and interested delegates.
This scientific seminar represents a regular activity within the series of seminars that are part of the E-PhD Program at the National Economics University over recent years. The objective of this seminar series is to serve doctoral students, young researchers, and faculty members interested in research fields including economics, business, management, and other interdisciplinary areas within the social sciences. This seminar series provides a platform for faculty and researchers to exchange ideas, connect, and collaborate on research endeavors.
Selected images from the seminar::
Article and Photos: Institute for Sustainable Development
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