IDEAS home Printed from https://ideas.repec.org/p/fip/fednls/87150.html
   My bibliography  Save this paper

How Do People Revise Their Inflation Expectations?

Author

Abstract

The New York Fed started releasing results from its Survey of Consumer Expectations (SCE) three years ago, in June 2013. The SCE is a monthly, nationally representative, internet-based survey of a rotating panel of about 1,300 household heads. Its goal, as described in a series of Liberty Street Economics posts, is to collect timely and high-quality information on consumer expectations about a broad range of topics, covering both macroeconomic variables and the households' own situation. In this post, we look at what drives changes in consumer inflation expectations. Do people respond to changes in recent realized inflation, and to expected and realized changes in prices of salient individual commodities?like gasoline? Understanding what drives inflation expectations is important for the conduct of monetary policy, since it improves a central bank?s ability to assess its own credibility and to evaluate the impact of its policy decisions and communication strategy.

Suggested Citation

  • Olivier Armantier & Giorgio Topa & Wilbert Van der Klaauw & Basit Zafar, 2016. "How Do People Revise Their Inflation Expectations?," Liberty Street Economics 20160822, Federal Reserve Bank of New York.
    • Handle: RePEc:fip:fednls:87150
    as

    Download full text from publisher

    File URL: https://libertystreeteconomics.newyorkfed.org/2016/08/how-do-people-revise-their-inflation-expectations.html
    File Function: Full text
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Alexander Dietrich & Edward S. Knotek & Kristian Ove R. Myrseth & Robert W. Rich & Raphael Schoenle & Michael Weber, 2022. "Greater Than the Sum of the Parts: Aggregate vs. Aggregated Inflation Expectations," Working Papers 22-20, Federal Reserve Bank of Cleveland.
    2. Nasir, Muhammad Ali & Balsalobre-Lorente, Daniel & Huynh, Toan Luu Duc, 2020. "Anchoring inflation expectations in the face of oil shocks & in the proximity of ZLB: A tale of two targeters," Energy Economics, Elsevier, vol. 86(C).

    More about this item

    Keywords

    expectations;

    JEL classification:

    • D1 - Microeconomics - - Household Behavior

    NEP fields

    This paper has been announced in the following NEP Reports:

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:fip:fednls:87150. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Gabriella Bucciarelli (email available below). General contact details of provider: https://edirc.repec.org/data/frbnyus.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.