...
  • 主题
高级搜索  >
历史搜索 清空历史
首页> 外文期刊>Journal of money, credit and banking >Do Actions Speak Louder Than Words? Household Expectations of Inflation Based on Micro Consumption Data
【24h】

Do Actions Speak Louder Than Words? Household Expectations of Inflation Based on Micro Consumption Data

机译：行动胜于雄辩吗？基于微观消费数据的家庭通货膨胀预期

获取原文
获取原文并翻译 | 示例
           
页面导航
  • 摘要
  • 著录项
  • 相似文献
  • 相关主题

摘要

Survey data on household expectations of inflation are routinely used in economic analysis, yet it is not clear how accurately households are able to articulate their expectations in survey interviews. We propose an alternative approach to recovering households' expectations of inflation from their consumption expenditures. We show that these expectations measures have predictive power for consumer price index (CPI) inflation. They are better predictors of CPI inflation than household survey responses and more highly correlated with professional inflation forecasts, except for highly educated consumers, consistent with the view that more educated consumers are better able to articulate their expectations. We also document that households' inflation expectations respond to inflation news, as measured by the unpredictable component of inflation predictions in the Survey of Professional Forecasters. The response to inflation news tends to increase with households' level of education, consistent with the existence of constraints on household's ability to process this information.
机译：经济分析中通常使用有关家庭对通货膨胀预期的调查数据，但尚不清楚家庭在调查访谈中如何准确地表达其预期。我们提出了一种替代方法，可以从家庭的消费支出中恢复其对通货膨胀的期望。我们表明，这些预期措施对消费物价指数（CPI）通胀具有预测能力。与受过良好教育的消费者相比，与受过高等教育的消费者相比，他们受过良好教育的消费者对CPI通胀的预测要好于家庭调查，并且与专业通胀预测的相关性更高。我们还记录了家庭的通货膨胀预期对通货膨胀消息的反应，这是由《专业预测员调查》中通货膨胀预测的不可预测部分所衡量的。随着家庭教育水平的提高，对通货膨胀消息的反应趋于增加，这与对家庭处理该信息的能力存在限制有关。

著录项

相似文献

  • 外文文献
  • 中文文献
  • 专利
获取原文

客服邮箱：kefu@zhangqiaokeyan.com

京公网安备：11010802029741号 ICP备案号：京ICP备15016152号-6 六维联合信息科技 (北京) 有限公司©版权所有

  • 客服微信

  • 服务号