Arbeitspapier
Effects of Inflation Expectations on Inflation
We study the effects of professionals’ survey-based inflation expectations on inflation for a large number of 36 OECD economies, using dynamic cross-country panel estimation of New-Keynesian Phillips curves. We find that inflation expectations have a significantly positive effect on inflation. We also find that the effect of inflation expectations on inflation is larger when inflation is higher. This suggests that second-round effects via the effects of higher inflation expectations on inflation are more relevant in a high-inflation environment.
- Language
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Englisch
- Bibliographic citation
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Series: CESifo Working Paper ; No. 9467
- Classification
-
Wirtschaft
Monetary Policy
Central Banks and Their Policies
- Subject
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inflation
inflation expectations
Phillips curve
- Event
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Geistige Schöpfung
- (who)
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Moessner, Richhild
- Event
-
Veröffentlichung
- (who)
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Center for Economic Studies and ifo Institute (CESifo)
- (where)
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Munich
- (when)
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2021
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Moessner, Richhild
- Center for Economic Studies and ifo Institute (CESifo)
Time of origin
- 2021
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