Showing 1 - 10 of 2,066
We examine partisan bias in inflation expectations. Our dataset includes inflation expectations of the New York Fed …'s Survey of Consumer Expectations over the period June 2013 to June 2018. The results show that inflation expectations were 0 …. Compared to inflation expectations in Democratic-dominated states, inflation expectations in Republican-dominated states …
Persistent link: https://www.econbiz.de/10012860297
consumption via managing inflation expectations based on the Euler equation. Unconventional fiscal policy uses trivial … announcements of future consumer-price increases to boost inflation expectations and consumption expenditure on impact. Instead … inflation expectations and spending today. We find households' inflation expectations and readiness to spend react substantially …
Persistent link: https://www.econbiz.de/10012861381
This paper investigates the heterogeneity of monetary policy transmission under time-varying disagreement regimes using a threshold VAR. Empirically, I establish that during times of high disagreement, prices respond more sluggishly in response to monetary shocks. These stickier prices cause a...
Persistent link: https://www.econbiz.de/10012858703
estimating a smooth transition regression model with different inflation expectations regimes for five inflation targeting …) respectively over the period January 1993-August 2021. Both market and survey measures of inflation expectations are used as the … expectations of both consumers and producers are considered instead of expectations from consumer surveys only. Finally, inflation …
Persistent link: https://www.econbiz.de/10013306953
their heterogeneity. We exploit survey data on output and inflation expectations by individual professional forecasters. We …
Persistent link: https://www.econbiz.de/10012831652
deviation (in beliefs, utility, or perceived prices) is within e of expected utility theory. The number e can then be used as a … distance to the theory. We apply our methodology to three recent large-scale experiments. Many subjects in those experiments …
Persistent link: https://www.econbiz.de/10012892237
-driven theory of dynamic pricing in which the Phillips curve slope is endogenous to systematic aspects of monetary policy. In our … attention to changes in their input costs, which leads to a flatter Phillips curve and more anchored inflation expectations …
Persistent link: https://www.econbiz.de/10013250042
Agents forming adaptive expectations generally make systematic mistakes. This characterization has fostered the rejection of adaptive expectations in macroeconomics. Experimental evidence, however, shows that in complex environments human subjects frequently rely on adaptive heuristics –...
Persistent link: https://www.econbiz.de/10013217385
, we follow Roberts (1997) and Adam and Padula (2003) and use direct measures of inflation expectations. The data source is … the Ifo World Economic Survey, which quarterly polls economic experts about their expected future development of inflation … turns out to more relevant for most countries in our sample. (ii) The use of survey data for inflation expectations yields a …
Persistent link: https://www.econbiz.de/10010261432
Do survey data on inflation expectations contain useful information for estimating macroeconomic models? I address this … restriction and helps to determine the forecasting model for inflation that agents use under learning. My results reveal that the … inflation expectations. …
Persistent link: https://www.econbiz.de/10010277385