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dc.contributor.authorLein, Sarah M.en_US
dc.contributor.authorMaag, Thomasen_US
dc.date.accessioned2008-10-30en_US
dc.date.accessioned2011-10-06T15:39:59Z-
dc.date.available2011-10-06T15:39:59Z-
dc.date.issued2008en_US
dc.identifier.pidoi:10.3929/ethz-a-005666792en_US
dc.identifier.urihttp://hdl.handle.net/10419/50341-
dc.description.abstractThis paper investigates how households form their perceptions of consumer price inflation. Using data from the harmonized EU consumer survey, we find that inflation perceptions are inefficient and highly heterogeneous, yet contemporaneously related to the actual rate of inflation. Consequently, we estimate how often households update their beliefs employing Carroll's (2003) epidemiological model. Our results indicate that inflation perceptions are generally less responsive to new information than expectations. Unlike studies on expectations, we cannot confirm that a constant fraction of the population updates information every month. Also, the cross-sectional heterogeneity of perceptions is higher than implied by infrequent updating alone.en_US
dc.language.isoengen_US
dc.publisherKOF Zürichen_US
dc.relation.ispartofseriesKOF working papers // Konjunkturforschungsstelle, Eidgenössische Technische Hochschule Zürich 204en_US
dc.subject.jelE31en_US
dc.subject.jelE50en_US
dc.subject.jelD83en_US
dc.subject.ddc330en_US
dc.subject.keywordinflation perceptionsen_US
dc.subject.keywordbelief formationen_US
dc.subject.keywordsticky information modelsen_US
dc.subject.stwInflationen_US
dc.subject.stwÖffentliche Meinungen_US
dc.subject.stwInformationsverhaltenen_US
dc.subject.stwEU-Staatenen_US
dc.titleThe formation of inflation perceptions: Some empirical facts for European countriesen_US
dc.typeWorking Paperen_US
dc.identifier.ppn584007418en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:KOF Working Papers, KOF Konjunkturforschungsstelle, ETH Zürich

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