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Inflation expectations are extracted from the Consumer Survey, which is conducted by the European Commission for the European Union. Using the probability method to quantify the qualitative answers different distribution functions and scaling parameters are assumed to cope with the properties of...
Persistent link: https://www.econbiz.de/10010296449
Empirical inferences about particular forms of agents’ inflation expectations are crucial for the conduct of monetary policy. This paper is an attempt to explore the properties of the Reserve Bank of India’s survey data of households’ inflation expectations. The paper shows that survey...
Persistent link: https://www.econbiz.de/10011858505
This paper analyzes the inflation expectation formation empirically for German consumers. The expectation formation process is analyzed for a representative consumer and for different demographic groups. The results indicate that German consumers are a relatively homogeneous group. There are...
Persistent link: https://www.econbiz.de/10010265193
Conjectures about inflation expectations are inextricably linked to our understanding of the relationship between the real and monetary sides of the economy; yet, direct empirical research on the matter has been scarce at best. This paper therefore examines the empirical properties of inflation...
Persistent link: https://www.econbiz.de/10010271069
Survey data indicate that a relatively large share of households is ill-informed about the rate of inflation in the economy, with perceived and expected rates of inflation deviating substantially from official measures. Using Swedish micro-level data, we find that such inflation illiteracy is...
Persistent link: https://www.econbiz.de/10013331917
Recent research offers mixed results concerning the relationship between inflation expectations and consumption, using qualitative measures of readiness to spend. We revisit this question using survey panel data from the United States of actual spending from 2009 through 2012 that also allow us...
Persistent link: https://www.econbiz.de/10012606354
This paper investigates the changing behavior of inflation expectations in response to the macroeconomic and policy environment. Using a panel of professional forecasters covering thirteen years of inflation targeting period from Turkey, we present evidence on the behavioral shifts in the...
Persistent link: https://www.econbiz.de/10012628450
This paper studies the impact of carbon pricing on firms' inflation expectations and discusses the potential implications for what constitutes the core of most central banks' mandate: price stability. Carbon policy shocks are identified from high-frequency changes in carbon futures price around...
Persistent link: https://www.econbiz.de/10014333769
This paper presents a new methodology for the quantification of qualitative survey data. Traditional conversion methods, such as the probability approach of Carlson and Parkin (1975) or the time-varying parameters model of Seitz (1988), require very restrictive assumptions concerning the...
Persistent link: https://www.econbiz.de/10010312067
Persistent link: https://www.econbiz.de/10003383065