The formation of inflation expectations: an empirical analysis for the UK / David G. Blanchflower, Conall MacCoille.

Format:

Book

Author/Creator:

Blanchflower, David G.

Contributor:

National Bureau of Economic Research.

MacCoille, Conall.

Series:

Working Paper Series (National Bureau of Economic Research) no. w15388.

NBER working paper series no. w15388

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

The formation of inflation expectations

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2009.

Summary:

This paper uses micro-data from three surveys for the UK to consider how individuals form inflation expectations. Generally, we find significant non-response bias in all surveys, with non-respondents especially likely to be young, female, less educated and with lower incomes. A number of demographic generalizations can be made based on the surveys. Inflation expectations rise with age, but the more highly educated and home owners tend to have lower inflation expectations. These groups are also more likely to be accurate in their estimates of official inflation twelve months ahead, and have less backward-looking expectations.

Notes:

Print version record

September 2009.