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Anchoring of consumers' inflation expectations : evidence from microdata ; conference paper
Dräger, Lena; Lamla, Michael - 2013 - Preliminary and incomplete
inflation as well as news on fiscal deficts lead to a greater comovement and hence a lower anchoring of inflation expectations …In this paper we explore the degree of anchoring of inflation expectations of consumers by analysing the comovement in … strength of comovement we find that high inflation, higher levels of expected inflation of professional forecasters and news on …
Persistent link: https://www.econbiz.de/10010340566
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Inflation expectations and their role in Eurosystem forecasting
2021
(i) reviewing the nature and behaviour of inflation expectations, with a focus on the degree of anchoring, and (ii … has been on surveys of professional forecasters and on market-based indicators.Regarding the anchoring of inflation … expectations, (ii) a comprehensive framework for assessing (un)anchoring and (iii) further considerations regarding the use of …
Persistent link: https://www.econbiz.de/10012626673
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How do households respond to expected inflation? : an investigation of transmission mechanisms
Jiang, Janet Hua; Kamdar, Rupal; Lu, Kelin; Puzzello, … - 2024 - Last updated: November 8, 2024
We disentangle the channels through which inflation expectations affect household spending. We conduct a survey featuring hypothetical scenarios that generate a controlled increase in inflation expectations. For 74% of households, current spending is unresponsive, typically due to fixed budget...
Persistent link: https://www.econbiz.de/10015100812
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Asymmetric inflation target credibility
Coleman, Winnie; Nautz, Dieter - 2025 - This version: March 2025
This paper investigates the determinants of inflation target credibility (ITC) using a unique survey we designed to measure the credibility of the ECB's inflation target. Containing over 200,000 responses from German consumers collected between January 2019 and November 2024, our dataset enables...
Persistent link: https://www.econbiz.de/10015361742
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Asymmetric inflation target credibility
Coleman, Winnie; Nautz, Dieter - 2025 - This version: January 2025
This paper investigates the determinants of inflation target credibility (ITC) using a unique survey we designed to measure the credibility of the ECB's inflation target. Containing over 200,000 responses from German consumers collected between January 2019 and November 2024, our dataset enables...
Persistent link: https://www.econbiz.de/10015173585
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On the perils of stabilizing prices when agents are learning
Mele, Antonio; Molnár, Krisztina; Santoro, Sergio - 2015
We show that price level stabilization is not optimal in an economy where agents have incomplete knowledge about the policy implemented and try to learn it. A systematically more accommodative policy than what agents expect generates short term gains without triggering an abrupt loss of...
Persistent link: https://www.econbiz.de/10010474823
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Understanding firms' inflation expectations using the Bank of Canada's Business Outlook Survey
Richards, Simon; Verstraete, Matthieu - 2016
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10011433529
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Understanding firms' inflation expectations using the Bank of Canada's Business Outlook Survey
Richards, Simon; Verstraete, Matthieu - 2016
Inflation expectations are a key determinant of actual and future inflation and thus matter for the conduct of monetary policy. We study how firms form their inflation expectations using quarterly firm-level data from the Bank of Canada's Business Outlook Survey, spanning the 2001 to 2015...
Persistent link: https://www.econbiz.de/10011540769
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Inflation expectations and risk premia in emerging bond markets: evidence from Mexico
Beauregard, Remy; Christensen, Jens H. E.; Fischer, Eric; … - 2021
To study inflation expectations and associated risk premia in emerging bond markets, this paper provides estimates for Mexico based on an arbitrage-free dynamic term structure model of nominal and real bond prices that accounts for their liquidity risk. In addition to documenting the existence...
Persistent link: https://www.econbiz.de/10012498145
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Does inflation targeting reduce the dispersion of price setters' inflation expectations?
Paulie, Charlotte - 2018
Using detailed Swedish micro data on prices and costs, this paper documents a decrease in the dispersion of changes in prices and markups following the introduction of an official inflation target of 2 percent. Using a structural model to decompose the change in the price-change distribution by...
Persistent link: https://www.econbiz.de/10011952634