This paper investigates the issue of rational expectations using inflation forecasts from the Survey of Professional … estimated time-varying bias can be used to improve the SPF and Green Book inflation forecast performance by at least 13.4%. This … under- and over predictions of actual inflation. …

The present paper compares expected inflation to (econometric) inflation forecasts based on a number of forecasting … expected inflation we develop a recursive filtering algorithm which extracts unexpected inflation from real interest rate data …, even in the presence of diverse risks and a potential Mundell-Tobin-effect. The extracted unexpected inflation is compared …

survey data of inflation expectations to estimate the New Keynesian model by Smets and Wouters (2007) and compare its …

In this paper we study how inflation expectations are formed and whether these change due to the occurrence of policy … home inflation and report confidence intervals. At three points in time during our experiments, we also ask our … 6750 home inflation point forecasts and confidence intervals. We find that: (1) inflation expectations are seldom rational …

gereicht hätte, um die Inflationsrisiken zu begrenzen. Statt mit Augenmaß die Inflation in Schach zu halten, droht die EZB mit …

regression models and provide a discussion of the impact on the formation of inflation expectations in the presence of multiple … and recurrent changes in inflation regimes. Our empirical findings give a plausible explanation as to why the rational …-expectations hypothesis based on direct measures of inflation expectations from survey series is typically rejected because of large …