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A note on the impact of the inclusion of an anchor number in the inflation expectations survey question

Author

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  • Monique Reid
  • Hanjo Odendaal
  • Stan Du Plessis
  • Pierre Siklos

Abstract

Inflation expectations surveys are receiving increasing attention. There is no optimal approach and often limited discussion of key characteristics of individual surveys. We use a South African dataset to argue that survey design should be given far more attention as it may undermine our ability to use the data with confidence. Users of survey data need to understand existing differences in survey design and the extent to which survey data reflect decision-making shortcuts under uncertainty as opposed to a true belief about what the public more generally really thinks expected inflation will be.

Suggested Citation

  • Monique Reid & Hanjo Odendaal & Stan Du Plessis & Pierre Siklos, 2020. "A note on the impact of the inclusion of an anchor number in the inflation expectations survey question," CAMA Working Papers 2020-38, Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University.
    • Handle: RePEc:een:camaaa:2020-38
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    File URL: https://cama.crawford.anu.edu.au/sites/default/files/publication/cama_crawford_anu_edu_au/2020-04/38_2020_reid_odendaal_plessis_siklos1.pdf
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    Cited by:

    1. Andrew Phiri & Lutho Mbekeni, 2021. "Fisher’s hypothesis, survey-based expectations and asymmetric adjustments: Empirical evidence from South Africa," International Economics and Economic Policy, Springer, vol. 18(4), pages 825-846, October.
    2. Monique Reid & Pierre Siklos, 2021. "The Bureau for Economic Research's inflation expectations surveys: Know your data," Working Papers 10/2021, Stellenbosch University, Department of Economics.
    3. Monique Reid & Pierre Siklos, 2020. "Building Credibility and Influencing Expectations The Evolution of Central Bank Communication," Working Papers 10144, South African Reserve Bank.

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