Relying on Michigan Survey's monthly micro data on inflation expectations we try to determine the main features - in … terms of sources and degree of heterogeneity - of inflation expectation formation over different phases of the business …

nominal series. Countryby- country regressions for inflation and interest rates reveal that both the level of disagreement and …

nominal series. Country-by-country regressions for inflation and interest rates reveal that both the level of disagreement and …

household and expert inflation expectations in five core European economies (France, Germany, Italy, Netherlands and Spain … in high inflation countries are using higher best fitting constant gain parameters than those in low inflation countries … frequently than households. Furthermore, household expectations in the Euro Area have not converged to the inflation goal of the …

forecasting inflation. In particular, high income, highly educated, and male agents produce lower mean squared errors. Moreover …

Disagreement in inflation expectations observed from survey data varies systematically over time in a way that reflects … the level and variance of current inflation. This paper offers a simple explanation for these facts based on asymmetries … in the forecasters’ costs of over- and under-predicting inflation. Our model implies (i) biased forecasts; (ii) positive …

, consumption, investment and unemployment) has a distinct dynamic from disagreement about nominal variables (inflation and interest … nominal series. Country-by-country regressions for inflation and interest rates reveal that both the level of disagreement and …