Inoue, Atsushi; Kilian, Lutz; Kiraz, Fatma Burcu - C.E.P.R. Discussion Papers - 2006
Survey data on household expectations of inflation are routinely used in economic analysis, yet it is not clear to what … extent households are able to articulate their expectations in survey interviews. We propose an alternative approach to … expectations have predictive power for CPI inflation. They are better predictors of CPI inflation than survey responses, except for …