For instance, , Kozicki and Tinsley (2002), Erceg and Levin (2003), Carroll (2003), Adam and Padula (2003), Mankiw and Reis (2002), Mankiw, Reis, and Wolfers (2003), Branch (2004), and Branch and Evans (2006), among others, use survey expectations in their works.
Inflation Dynamics: The Role of Expectations
Article first published online: 19 AUG 2010
Published 2010. This article is a US Government work and is in the public domain in the USA.
Journal of Money, Credit and Banking
Volume 42, Issue 6, pages 1161–1172, September 2010
How to Cite
NUNES, R. (2010), Inflation Dynamics: The Role of Expectations. Journal of Money, Credit and Banking, 42: 1161–1172. doi: 10.1111/j.1538-4616.2010.00324.x
Several studies conclude that survey expectations often depart from the RE concept (e.g., Bryan and Gavin 1986, Pesaran 1987, Batchelor and Dua 1989, Baghestani 1992, Ball and Croushore 2003, , Croushore 1998, Thomas 1999, Adam and Padula 2003, ). Ang, Bekaert, and Wei (2007) find that survey measures can forecast 1-year-ahead inflation better than other aggregate forecasting models.
I am grateful to Daniel Beltran, Davide Debortoli, Pablo Fleiss, Jordi Galí, Luca Guerrieri, Christopher Gust, Albert Marcet, Ramon Marimon, Gregor Smith, and seminar participants at Universitat Pompeu Fabra, Vigo Xth Workshop in Dynamic Macroeconomics, 30th Simposio de Analisis Economico and 2006 Royal Economic Society conference for helpful comments. Any remaining errors are my own. The views expressed in the paper are those of the author and do not necessarily reflect those of the Board of Governors or the Federal Reserve System.
- Issue published online: 19 AUG 2010
- Article first published online: 19 AUG 2010
- Received February 15, 2008; and accepted in revised form January 5, 2010.
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