Journal article | Zeitschriftenartikel
Modelling the General Public's Inflation Expectations Using the Michigan Survey Data
In this paper we discuss a few models developed to explain the general public's inflation expectations formation and provide some relevant estimation results. Furthermore, we suggest a simple Bayesian learning model which could explain the expectations formation process on the individual level. When the model is aggregated to the population level it could explain not only the mean values, but also the variance of the public’s inflation expectations. The estimation results of the mean and variance equations seem to be consistent with the results of the questionnaire studies in which the respondents were asked to report their thoughts and opinions about inflation.
- Umfang
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Seite(n): 1311-1320
- Sprache
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Englisch
- Anmerkungen
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Status: Postprint; begutachtet (peer reviewed)
- Erschienen in
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Applied Economics, 41(10)
- Ereignis
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Geistige Schöpfung
- (wer)
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Luoma, Arto
Luoto, Jani
- Ereignis
-
Veröffentlichung
- (wann)
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2009
- DOI
- URN
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urn:nbn:de:0168-ssoar-240491
- Rechteinformation
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GESIS - Leibniz-Institut für Sozialwissenschaften. Bibliothek Köln
- Letzte Aktualisierung
-
21.06.2024, 16:26 MESZ
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Objekttyp
- Zeitschriftenartikel
Beteiligte
- Luoma, Arto
- Luoto, Jani
Entstanden
- 2009
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