Cui, Wei; Härdle, Wolfgang K.; Wang, Weining - Sonderforschungsbereich 649: Ökonomisches Risiko, … - 2015
ation, and in Nation expectation. However, existing literature falls short in endogenizing inflation expectation together … curve. Inflation expectation is treated as a function of state variables and we use survey data as its observations. We find … period around 1970. Moreover, the estimated Bayesian credible sets are narrower and our model leads to better inflation and …