Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/272733 
Erscheinungsjahr: 
2023
Schriftenreihe/Nr.: 
IZA Discussion Papers No. 16106
Verlag: 
Institute of Labor Economics (IZA), Bonn
Zusammenfassung: 
Using Italian data that includes both inflation forecasts of firms and external information on their balance sheets, we study the causal effect of changes in the dispersion of beliefs about future inflation on the misallocation of resources. We find that as disagreement increases, so does misallocation. In times of low inflation, the aggregate TFP loss of the dispersed expectations-induced misallocation is moderate, but we argue that it likely becomes quite significant in times of high inflation.
Schlagwörter: 
misallocation
inflation expectations
JEL: 
E31
C83
D84
O47
Dokumentart: 
Working Paper

Datei(en):
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