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Identifier to cite or link to this item: https://hdl.handle.net/10086/26433

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Title
Updating Behavior of Inflation Expectations: Evidence from Japanese Household Panel Data
Creator
Creator Name
Ueno, Yuko Ueno, Yuko
Affiliation
Affiliation Name
Hitotsubashi University
Editor
Contributor Name
一橋大学経済研究所世代間問題研究機構 = Center for Intergenerational Studies, Institute of Economic Research, Hitotsubashi University
Key Word
Inflation
survey expectations
information stickiness
rational inattention
forecast error
Abstract
This study provides insights into the expectation-updating behavior of Japanese households with regard to future inflation. Households do not renew their information set in every period, but they do so at a greater frequency than that argued in the literature. A more volatile inflation rate leads to improved accuracy vis-à-vis expectations, given higher attention levels—although greater volatility does make it more difficult to form precise forecasts. Additionally, the estimation results involving inflation reflect variation in consumption basket by household attributes and are consistent; these results are clearer than those involving the consumer price index, thus indicating the possibility that households indeed face variations in inflation rate, depending on their characteristics.
Publisher
Institute of Economic Research, Hitotsubashi University
Issued Date
2014-02
Language
English(eng)
Resource Type
technical report
Version Type
VoR
Is Part OfRelation -
Related Title
CIS Discussion paper series ; No. 617
Relation
Related Identifier
URI
  http://cis.ier.hit-u.ac.jp/English/index.html
Number of Pages
57
Appears in Collections
CIS Discussion paper series
URL
https://hdl.handle.net/10086/26433