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The Formation of Consumer Inflation Expectations : Evidence From Japan's Deflation Experience
http://hdl.handle.net/2261/59559
http://hdl.handle.net/2261/59559efdee558-2236-4f31-a143-04aa1e406f05
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
wp085.pdf (821.9 kB)
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| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2016-08-01 | |||||
| タイトル | ||||||
| タイトル | The Formation of Consumer Inflation Expectations : Evidence From Japan's Deflation Experience | |||||
| 言語 | ||||||
| 言語 | eng | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Inflation Expectations | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Deflation | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Monetary Policy | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Panel Data | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Japan | |||||
| 資源タイプ | ||||||
| 資源 | http://purl.org/coar/resource_type/c_18gh | |||||
| タイプ | technical report | |||||
| 著者 |
Diamond, Jess
× Diamond, Jess× Watanabe, Kota× Watanabe, Tsutomu |
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| 著者所属 | ||||||
| 著者所属 | Hitotsubashi University | |||||
| 著者所属 | ||||||
| 著者所属 | CIGS and University of Tokyo | |||||
| 著者所属 | ||||||
| 著者所属 | University of Tokyo | |||||
| 抄録 | ||||||
| 内容記述タイプ | Abstract | |||||
| 内容記述 | Using a new micro-level dataset we investigate the relationship between the inflation experience and inflation expectations of individuals in Japan. We focus on the period after 1995, when Japan began its era of deflation. Our key findings are fourfold. Firstly, we find that inflation expectations tend to increase with age. Secondly, we find that measured inflation rates of items purchased also increase with age. However, we find that age and inflation expectations continue to have a positive correlation even after controlling for the individual-level rate of inflation. Further analysis suggests that the positive correlation between age and inflation expectations is driven to a significant degree by the correlation between cohort and inflation expectations, which we interpret to represent the effect of historical inflation experience on expectations of future inflation rates. | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | 2012～2016年度科学研究費補助金[基盤研究(S)]「長期デフレの解明」(研究代表者 東京大学経済学研究科・渡辺努, 課題番号：24223003) | |||||
| 内容記述 | ||||||
| 内容記述タイプ | Other | |||||
| 内容記述 | First draft:2016.7 This version:2017.5 | |||||
| 書誌情報 |
JSPS Grants-in-Aid for Scientific Research (S) Understanding Persistent Deflation in Japan Working Paper Series 巻 085, 発行日 2016-07 |
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| 出版者 | ||||||
| 出版者 | UTokyo Price Project | |||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.price.e.u-tokyo.ac.jp/researchdata/ | |||||
