• Medientyp: E-Book
  • Titel: Medium- vs. short-term consumer inflation expectations : evidence from a new euro area survey
  • Beteiligte: Stanisławska, Ewa [VerfasserIn]; Paloviita, Maritta [VerfasserIn]
  • Erschienen: Helsinki: Bank of Finland, 29 June 2021
  • Erschienen in: Suomen Pankki: Bank of Finland research discussion papers ; 2021,10
  • Umfang: 1 Online-Ressource (circa 38 Seiten); Illustrationen
  • Sprache: Englisch
  • ISBN: 9789523233805
  • Identifikator:
  • Schlagwörter: Inflation expectations ; consumer survey ; micro-data ; Graue Literatur
  • Entstehung:
  • Anmerkungen:
  • Beschreibung: Using the ECB Consumer Expectations Survey, this paper investigates how consumers revise medium-term inflation expectations. We provide robust evidence of their adjustment to the current economic developments. In particular, consumers adjust medium-term inflation views in response to changes in short-term inflation expectations and, to a lesser degree, to changes in perceptions of current inflation. We find that the strong adverse Covid-19 pandemic shock contributed to an increase in consumer inflation expectations. We show that consumers who declare high trust in the ECB adjust their medium-term inflation expectations to a lesser degree than consumers with low trust. Our results increase understanding of expectations formation, which is an important issue for medium-term oriented monetary policy.
  • Zugangsstatus: Freier Zugang