their expenditure shares when forming expectations about price inflation. We develop a simple dynamic model of the economy … for individuals to place more weight on the movement of prices in these sectors. We use survey data on expected inflation … the United States. We find food price inflation is weighted more heavily and energy price inflation is weighted less …

The paper discusses policy relevant models, going from (1) chronic inflation in the 20th century after WWII, to (2 …

exploits the rounding patterns in individuals' responses to survey questions on inflation expectations (Binder, 2017). This … inflation expectations. …