Lennard, Jason; Meinecke, Finn; Solomou, Solomos - 2021
" - suggests that a shift in expected inflation lowered real interest rates and stimulated consumption and investment. However, few … studies have measured, or tested the economic consequences of, inflation expectations. In this paper, we collect high …-frequency information from primary and secondary sources to measure expected inflation in the United Kingdom between the wars. A VAR model …