The price is right : Updating of inflation expectations in a randomized price information experiment

@inproceedings{Armantier2012ThePI,
  title={The price is right : Updating of inflation expectations in a randomized price information experiment},
  author={Olivier Armantier and Scott Nelson and Giorgio Topa and Wilbert van der Klaauw and Basit Zafar},
  year={2012}
}
Understanding the formation of consumer inflation expectations is considered crucial for monetary policy. Using a unique “information” experiment embedded in a survey, this paper investigates how consumers’ inflation expectations respond to new information. We elicit respondents’ expectations for future inflation before and after providing a random subset of respondents with factual information that may affect their expectations. This design creates unique panel data that allow us to identify… CONTINUE READING
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