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Although in modern monetary economics it is usually assumed that inflation expectations play a prominent role when economic agents set prices and wages, the empirical evidence for this link is scarce. This paper aims to identify the effect of changes in inflation expectations on prices and wages...
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Using the exact wording of the ECB's definition of price-stability, we started a representative online survey of German citizens in January 2019 that is designed to measure long-term inflation expectations and the credibility of the inflation target. Our results indicate that credibility has...
Persistent link: https://www.econbiz.de/10012661961
Dutch household survey of short- and long-term inflation expectations, where half of respondents receive information about … household inflation expectations, but the high realisations of actual inflation did. These findings suggest that when it comes … to household inflation expectations and central bank credibility, inflation outcomes speak louder than words. The third …
Persistent link: https://www.econbiz.de/10013290329
rigidity in household balance sheet …
Persistent link: https://www.econbiz.de/10013293613
Evidence on the credibility of a central bank's inflation target typically refers to the anchoring of survey-based measures of inflation expectations. However, both the survey question and the anchoring criteria are only loosely connected to the actual inflation target used in monetary policy...
Persistent link: https://www.econbiz.de/10012225643
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We study how households adjust their medium-term inflation expectations under the new monetary policy strategy of the ECB. In a representative sample of 7,500 participants of the Bundesbank Online Panel Households, we find that survey respondents make little difference between the previous...
Persistent link: https://www.econbiz.de/10014358594
We study how households adjust their medium-term inflation expectations under the new monetary policy strategy of the ECB. In a representative sample of 7,500 participants of the Bundesbank Online Panel Households, we find that survey respondents make little difference between the previous...
Persistent link: https://www.econbiz.de/10014358640