Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/251958 
Year of Publication: 
2022
Series/Report no.: 
Deutsche Bundesbank Discussion Paper No. 12/2022
Publisher: 
Deutsche Bundesbank, Frankfurt a. M.
Abstract: 
Using survey data from German households, we find that individuals with lower climate concern tend to have higher inflation expectations up to five years ahead. This correlation is most pronounced among individuals with extremely high inflation expectations. Evaluating candidate explanations, we find that part of the link between climate concern and inflation expectations can be associated with individuals' perceived exposures to climate-related risks and with their distrust in the central bank. Overall, our results suggest that climate change perceptions matter for inflation expectations.
Subjects: 
climate change
inflation expectations
physical risk
transition risk
central bank distrust
household surveys
JEL: 
E31
E50
Q54
Q58
ISBN: 
978-3-95729-880-5
Document Type: 
Working Paper

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