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Autor:innen: 
Erscheinungsjahr: 
2022
Schriftenreihe/Nr.: 
Bank of Finland Research Discussion Papers No. 5/2022
Verlag: 
Bank of Finland, Helsinki
Zusammenfassung: 
I construct a novel measure of household uncertainty based on survey data for European countries. I show that household uncertainty shocks do not universally behave like negative demand shocks. Notably, household uncertainty shocks are largely inflationary in Europe. Further analysis, including a comparison of results across countries, suggest that factors related to average markups along with monetary policy play a role in the transmission of household uncertainty to inflation. These results lend support to a pricing bias mechanism as an important transmission channel.
Schlagwörter: 
uncertainty
inflation
surveys of expectations
JEL: 
D84
E30
E52
E71
Persistent Identifier der Erstveröffentlichung: 
ISBN: 
978-952-323-402-4
Dokumentart: 
Working Paper

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