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The Formation of Consumer Inflation Expectations: New Evidence From Japan’s Deflation Experience
http://hdl.handle.net/2261/00076212
http://hdl.handle.net/2261/000762128f1aa662-9fc4-4057-a7fe-aafaf371474c
| 名前 / ファイル | ライセンス | アクション |
|---|---|---|
cb-wp001.pdf (1.2 MB)
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| Item type | テクニカルレポート / Technical Report(1) | |||||
|---|---|---|---|---|---|---|
| 公開日 | 2018-09-06 | |||||
| タイトル | ||||||
| タイトル | The Formation of Consumer Inflation Expectations: New 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 | Household Level | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Inflation Data | |||||
| キーワード | ||||||
| 主題Scheme | Other | |||||
| 主題 | Japan | |||||
| 資源タイプ | ||||||
| 資源タイプ識別子 | http://purl.org/coar/resource_type/c_18gh | |||||
| 資源タイプ | technical report | |||||
| 著者 |
Diamond, Jess
× Diamond, Jess× Watanabe, Kota× Watanabe, Tsutomu |
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| 著者所属 | ||||||
| 値 | Department of Economics, Hosei University | |||||
| 著者所属 | ||||||
| 値 | Canon Institute for Global Studies (CIGS) and University of Tokyo | |||||
| 著者所属 | ||||||
| 値 | Graduate School of Economics, 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 households 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 household-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 | Publisher's another name: JSPS Grants-in-Aid for Scientific Research (S) Central Bank Communication Design | |||||
| 書誌情報 |
Working Papers on Central Bank Communication 巻 001, 発行日 2018-08 |
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| 著者版フラグ | ||||||
| 値 | publisher | |||||
| 出版者 | ||||||
| 出版者 | Research Project on Central Bank Communication | |||||
| 関係URI | ||||||
| 識別子タイプ | URI | |||||
| 関連識別子 | http://www.centralbank.e.u-tokyo.ac.jp/en/category/research-data/ | |||||
