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dc.contributor.authorLein, Sarah M.en
dc.contributor.authorMaag, Thomasen
dc.date.accessioned2008-10-30-
dc.date.accessioned2011-10-06T15:39:59Z-
dc.date.available2011-10-06T15:39:59Z-
dc.date.issued2008-
dc.identifier.pidoi:10.3929/ethz-a-005666792en
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
dc.language.isoengen
dc.publisher|aETH Zurich, KOF Swiss Economic Institute |cZurichen
dc.relation.ispartofseries|aKOF Working Papers |x204en
dc.subject.jelE31en
dc.subject.jelE50en
dc.subject.jelD83en
dc.subject.ddc330en
dc.subject.keywordinflation perceptionsen
dc.subject.keywordbelief formationen
dc.subject.keywordsticky information modelsen
dc.subject.stwInflationen
dc.subject.stwÖffentliche Meinungen
dc.subject.stwInformationsverhaltenen
dc.subject.stwEU-Staatenen
dc.titleThe formation of inflation perceptions: Some empirical facts for European countries-
dc.typeWorking Paperen
dc.identifier.ppn584007418en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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