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We study the link between expected inflation and wages using novel panel data from German firms and employees. We find … that pass-through - the percentage point change in wage growth given a one percentage point change in expected inflation … extensive margin, expected inflation has little effect on additional wage negotiations. …
Persistent link: https://www.econbiz.de/10015053872
We study the link between expected inflation and wages using novel panel data from German firms and employees. We find … that pass-through—the percentage point change in wage growth given a one percentage point change in expected inflation … margin, expected inflation has little effect on additional wage negotiations. …
Persistent link: https://www.econbiz.de/10015061156
We assess whether euro area inflation expectations, as measured by break-even inflation rates (BEIRs), have remained … illiquidity or demand-supply imbalances, but not reflecting genuine inflation expectations and inflation risk premia. We estimate … a bivariate VAR with short-term and long-term BEIRs, allowing for measurement noise in both. Anchoring of inflation …
Persistent link: https://www.econbiz.de/10010341627
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/10012806637
Trend inflation estimates for 12 of the largest Asian economies over 1995-2018 offer important insights on inflation … dynamics and inflation expectations. The disinflationary shocks that hit the region since 2014 were partly transitory, but … their effects have been different depending on the behaviour of trend inflation in each country. Countries with relatively …
Persistent link: https://www.econbiz.de/10012858259
The real time supervision of inflation expectations is an important issue for monetary policymakers, especially in … heteroscedastic market based daily proxies for short, medium and long run inflation expectations. Our empirical evidence suggests that … the on-line surveillance of risk adjusted US forward breakeven inflation rates by means of the CUSUM detector appears to …
Persistent link: https://www.econbiz.de/10013022557
of the daily percentage change in the S&P 500 on the TIPS spread measuring inflation expectations show little correlation … between asset prices and expected inflation from 2003 until early 2008. However, since early 2008 the correlation between … changes in stock prices and in inflation expectations has been strongly positive and statistically significant …
Persistent link: https://www.econbiz.de/10013093920
Expectations are at the centre of modern macroeconomic theory and policymakers. In this paper, we examine the predictive ability and the consistency properties of macroeconomic expectations using data of the European Central Bank (ECB) Survey of Professional Forecasters (SPF)
Persistent link: https://www.econbiz.de/10012961331
uncorrected, must cause inflation, but the imbalance may get corrected in the future with some probability. By maintaining price …
Persistent link: https://www.econbiz.de/10014376056
Persistent link: https://www.econbiz.de/10011486604