This paper uses monthly survey data to derive short and long run expected inflation time series. This data is then combined with time series of the risk premia on the bonds and the variance of future inflation. We find not maturity effect but remarkable consistency across bonds in the effects of...

This paper attempts to examine the characteristics of the quarterly EEC consumer anticipations survey for inflation in the U.K. Using a variant of Pesaran’s approach, we investigate whether the survey data satisfies certain reasonable postulates mainly arising from the assumption of...

This paper examines qualitative quarterly survey data on U.K. consumers price anticipations in the context of a framework designed to allow the authors to test the predictive ability of consumers and the information content of this survey data. The results indicate that the survey data contains...