Arbeitspapier
The Dynamics of European Inflation Expectations
We investigate the relevance of the Carroll?s sticky information model of inflation expectations for four major European economies (France, Germany, Italy and the United Kingdom). Using survey data on household and expert inflation expectations we argue that the model adequately captures the dynamics of household inflation expectations. We estimate two alternative parametrizations of the sticky information model which differ in the stationarity assumptions about the underlying series. Our baseline stationary estimation suggests that the average frequency of information updating for the European households is roughly once in 18 months. The vector error-correction model implies households update information about once a year.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 571
- Klassifikation
-
Wirtschaft
Price Level; Inflation; Deflation
Expectations; Speculations
- Thema
-
Inflation expectations
sticky information
inflation persistence
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Döpke, Jörg
Dovern, Jonas
Fritsche, Ulrich
Slacalek, Jirka
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2006
- Handle
- Letzte Aktualisierung
-
20.09.2024, 08:23 MESZ
Datenpartner
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Döpke, Jörg
- Dovern, Jonas
- Fritsche, Ulrich
- Slacalek, Jirka
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2006
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