valued marginal utilities of the final unit consumed. Effective inflation rates derived from effective prices are …

valued marginal utilities of the final unit consumed. Effective inflation rates derived from effective prices are …

prices and markups following the introduction of an official inflation target of 2 percent. Using a structural model to … price-change dispersion can be attributed to a decrease in the cross-sectional variance of inflation expectations. The lower … dispersion of inflation expectations results in a lower markup dispersion and a welfare gain equivalent to a 0.79 percent …

Empirical inferences about particular forms of agents' inflation expectations are crucial for the conduct of monetary …' inflation expectations. The paper shows that survey respondents do not form expectations rationally, regardless of the reference … measures of inflation used. Further, results indicate that inflation expectations are formed purely in backward-looking manner …