This paper applies ARDL and Nonlinear ARDL models to long-term inflation targeting policy mechanisms in the United … States and China to assess the impact of oil price dynamics and asymmetries on inflation expectations in the two countries … changes on inflation expectations, and further provide a theoretical basis for the empirical results. We use data from 2010 to …

We investigate how non-specialists form inflation expectations by running an experiment using a basic Overlapping … Generations (OLG) model. The participants of the experiment are students of the University of Amsterdam, who predict inflation … increases the money supply at a constant rate. Participants are placed in separate OLG economies and are divided over two …

We investigate how non-specialists form inflation expectations by running an experiment using a basic Overlapping … Generations (OLG) model. The participants of the experiment are students of the University of Amsterdam, who predict inflation … increases the money supply at a constant rate. Participants are placed in separate OLG economies and are divided over two …

and inflation, as outlined in the classical study by M. Friedman and Schwartz, mostly disappeared since the early 1980s … find that domestic money (currency component of M1 corrected for the foreign holdings of dollars) contains valuable … information about future movements of US real output and inflation. Statistical evidence here provided thus suggests that the …

determination of the central bank to leave unchanged its long-term inflation objective in the face of inflationary shocks. The … magnitude of private sector learning has been calibrated to match the volatility of US inflation expectations at long horizons …. Given such illustrative calibrations, we find that the costs of maintaining a given inflation volatility under weak …

The purpose of this paper is to investigate the nature of professionals’ inflation forecasts inattentiveness. We …

The paper integrates the two-pillar Phillips curve, which explains expected inflation by the money growth trend, within … distinguished from which one derives inflation expectations from money growth trend figures whereas the other builds rational … expectations by way of learning. The inspection of output and inflation variances show that a policy of reacting to excess money …

environment affects how agents learn from new information. We show that as inflation rose in advanced economies, both households … and firms became more attentive and informed about publicly available news about inflation, leading them to respond less … to exogenously provided information about inflation and monetary policy. We also study the effects of RCTs in countries …

We study how individuals' memories of inflation shape their expectations about future inflation using both surveys and … the current inflation episode to last. Information treatments in which we show people prior disinflationary experiences … similarly strongly reduce inflation expectations of individuals on average and are often recalled as inflation memories months …

We study how individuals' memories of inflation shape their expectations about future inflation using both surveys and … the current inflation episode to last. Information treatments in which we show people prior disinflationary experiences … similarly strongly reduce inflation expectations of individuals on average and are often recalled as inflation memories months …