• Media type: E-Book
  • Title: Effects of Inflation Expectations on Inflation
  • Contributor: Moessner, Richhild [VerfasserIn]
  • imprint: [S.l.]: SSRN, [2021]
  • Published in: CESifo Working Paper ; No. 9467
  • Extent: 1 Online-Ressource (15 p)
  • Language: English
  • DOI: 10.2139/ssrn.3982030
  • Identifier:
  • Origination:
  • Footnote: Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments 2021 erstellt
  • Description: 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
  • Access State: Open Access