Fireside Chats
Communication and Consumers’ Expectations in the Great Depression
Bibliographic Data
| ID | 19320126 |
|---|---|
| Authors | Mathieu Pedemonte (0000-0002-3614-8715, Federal Reserve Bank of Cleveland, corresponding author) |
| Year | 2024 |
| Volume | 106 |
| Issue | 4 |
| Pages | 997-1011 |
| Publication date | 2024-07-08 |
| Open Access | No |
| Type | ARTICLE |
| Venue | The Review of Economics and Statistics (JOURNAL) |
| Journal identifiers | ISSN: 0034-6535 • E-ISSN: 1530-9142 |
| Publisher | MIT Press (PUBLISHER • US) |
| DOI | 10.1162/rest_a_01200 |
| OpenAlex | W4280532096 |
| Language | EN |
| Citations received | 2 |
| References cited | 32 |
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. 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. This paper shows the power of communication as a policy tool
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| Citations per year | 2 |
|---|---|
| Citation span | 2025 - 2025 (1) |
| Highly cited | No |