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Demographic differences in inflation expectations: what do they really mean?


  • Brent Meyer
  • Guhan Venkatu


It has often been reported that different demographic groups show persistent differences in their inflation expectations. Some reasonable explanations have been suggested, but most have failed to fully explain these apparent differences. We argue that the demographic differences have been overstated by using the mean to describe differences across demographic groups. When we use the median to describe inflation expectations, we find little meaningful difference across demographic groups.

Suggested Citation

  • Brent Meyer & Guhan Venkatu, 2011. "Demographic differences in inflation expectations: what do they really mean?," Economic Commentary, Federal Reserve Bank of Cleveland, issue May.
  • Handle: RePEc:fip:fedcec:y:2011:i:may17:n:2011-7

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    Blog mentions

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    1. An Inflation Expectations Experiment
      by (Carola) in Quantitative Ease on 2017-09-28 18:22:00


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    Cited by:

    1. Sandor Axelrod & David E. Lebow & Ekaterina V. Peneva, 2018. "Perceptions and Expectations of Inflation by U.S. Households," Finance and Economics Discussion Series 2018-073, Board of Governors of the Federal Reserve System (U.S.).
    2. Binder, Carola, 2017. "Consumer forecast revisions: Is information really so sticky?," Economics Letters, Elsevier, vol. 161(C), pages 112-115.
    3. Constantin B├╝rgi, 2020. "Consumer Inflation Expectations and Household Weights," Working Papers 2020-002, The George Washington University, Department of Economics, H. O. Stekler Research Program on Forecasting.
    4. Benjamin K. Johannsen, 2014. "Inflation Experience and Inflation Expectations: Dispersion and Disagreement Within Demographic Groups," Finance and Economics Discussion Series 2014-89, Board of Governors of the Federal Reserve System (U.S.).
    5. Li, Shaoyu & Wei, Lijia & Xu, Zhiwei, 2017. "Dynamic asset allocation and consumption under inflation inequality: The impacts of inflation experiences and expectations," Economic Modelling, Elsevier, vol. 61(C), pages 113-125.

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    Inflation (Finance); Demography;


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