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Inflation expectations in the Euro area: are consumers rational?
[Zeitschriftenartikel]
Abstract In this paper, we propose a quantitative measure for inflation expectations based on consumer survey data. Thereafter, we proceed to testing the rationality assumption. This issue is of noteworthy interest in its own as it is commonly assumed in the theoretical modelling literature that the rational... mehr
In this paper, we propose a quantitative measure for inflation expectations based on consumer survey data. Thereafter, we proceed to testing the rationality assumption. This issue is of noteworthy interest in its own as it is commonly assumed in the theoretical modelling literature that the rational expectations hypothesis holds. This analysis is conducted for the euro area as a whole, as well as for several member countries, using a sample covering the last two decades. Moreover, we also assess if the conclusions hold when one focuses on the post-euro introduction period.... weniger
Klassifikation
Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik
Volkswirtschaftslehre
Freie Schlagwörter
Inflation expectations; Consumer survey; Probability method; Rationality tests; Common factors; C16; C22; C43; E31
Sprache Dokument
Englisch
Publikationsjahr
2010
Seitenangabe
S. 591-607
Zeitschriftentitel
Review of World Economics, 146 (2010) 3
DOI
https://doi.org/10.1007/s10290-010-0058-6
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)