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Heterogeneity of Inflation Expectations: An Analysis Using IESH Data

In: Recent Developments in Asian Economics International Symposia in Economic Theory and Econometrics

Author

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  • Ashima Goyal
  • Prashant Parab

Abstract

The authors model heterogeneity of inflation expectations across Indian households using the Inflation Expectations Survey of Households data set. Using Carroll-type epidemiological models and pooled cross sectional analyses, the authors find that women, homemakers, older people and Tier 2 and 3 city dwellers tend to have higher inflation expectations compared to their counterparts. In the epidemiological model-based analysis, these very cohorts display higher speed of adjustment to news. Overall higher relative adjustment speeds point to the significance of central bank communications.

Suggested Citation

  • Ashima Goyal & Prashant Parab, 2021. "Heterogeneity of Inflation Expectations: An Analysis Using IESH Data," International Symposia in Economic Theory and Econometrics, in: Recent Developments in Asian Economics International Symposia in Economic Theory and Econometrics, volume 28, pages 423-437, Emerald Group Publishing Limited.
    • Handle: RePEc:eme:isetez:s1571-038620210000028024
    DOI: 10.1108/S1571-038620210000028024
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    More about this item

    Keywords

    Inflation expectations of households; epidemiological models; heterogeneity; central bank communications; inflation expectations of households; heterogeneity; epidemiological models; central bank communications; sticky information; pooled cross sections; D83; D84; E52; E58;
    All these keywords.

    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies

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