Arbeitspapier

Consumer attitudes and the epidemiology of inflation expectations

zu Verbundenen Objekten

This paper studies the formation of consumers' inflation expectations using micro-level data from the Michigan Survey. It shows that beyond the well-established socioeconomic determinants of inflation expectations such as gender, income or education, other characteristics such as the households' financial situation and their purchasing attitudes also matter. Respondents with current or expected financial difficulties, pessimistic attitudes about major purchases, or expectations that income will go down in the future have considerably higher forecast errors, are further away from professional forecasts, and have a stronger upward bias in their expectations than other households. However, their bias shrinks by more than that of the average household in response to increasing media reporting about inflation.

Sprache
Englisch

Erschienen in
Series: Bank of Canada Working Paper ; No. 2014-28

Klassifikation
Wirtschaft
Forecasting Models; Simulation Methods
Expectations; Speculations
Price Level; Inflation; Deflation
Thema
Inflation and prices

Ereignis
Geistige Schöpfung
(wer)
Ehrmann, Michael
Pfajfar, Damjan
Santoro, Emiliano
Ereignis
Veröffentlichung
(wer)
Bank of Canada
(wo)
Ottawa
(wann)
2014

DOI
doi:10.34989/swp-2014-28
Handle
Letzte Aktualisierung
10.03.2025, 11:44 MEZ

Datenpartner

Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
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Objekttyp

  • Arbeitspapier

Beteiligte

  • Ehrmann, Michael
  • Pfajfar, Damjan
  • Santoro, Emiliano
  • Bank of Canada

Entstanden

  • 2014

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