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Does age matter in inflation uncertainty?

Author

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  • Zhong, Chunping
  • Huo, Jiaxu

Abstract

This letter studies age-heterogeneous inflation uncertainty. We contrast two measures of uncertainty: The variance of the respondents' subjective belief distribution and the relatively objective rounding-based uncertainty. Inconsistency of two measures suggests that older individuals may underestimate inflation uncertainty while the young tend to overestimate it. This is further supported by the observation that older individuals have higher prediction errors. The research indicates a potential bias in subjective uncertainty assessments of different age groups.

Suggested Citation

  • Zhong, Chunping & Huo, Jiaxu, 2024. "Does age matter in inflation uncertainty?," Economics Letters, Elsevier, vol. 242(C).
    • Handle: RePEc:eee:ecolet:v:242:y:2024:i:c:s0165176524003185
    DOI: 10.1016/j.econlet.2024.111834
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