Determinants of Inflation Expectations

This paper analyses the determinants of short-term inflation expectations based on surveys of professionals, using dynamic cross-country panel estimation for a large number of 34 OECD economies. We find that food consumer price inflation and depreciations of the domestic exchange rate have significant positive effects on professionals' survey-based inflation expectations. Moreover, core consumer price inflation and the output gap have significant positive effects.

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Year of publication:	2021
Authors:	Moessner, Richhild
Publisher:	Munich : Center for Economic Studies and ifo Institute (CESifo)
Subject:	inflation expectations \| inflation \| food prices \| exchange rates

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Series:	CESifo Working Paper ; 9485
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	1784458872 [GVK] hdl:10419/252002 [Handle] RePec:ces:ceswps:_9485 [RePEc]
Classification:	E52 - Monetary Policy (Targets, Instruments, and Effects) ; E58 - Central Banks and Their Policies
Source:	EconStor

Persistent link: https://www.econbiz.de/10013177519