Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/78601
Authors: 
Menz, Jan-Oliver
Poppitz, Philipp
Year of Publication: 
2013
Series/Report no.: 
Discussion Paper, Deutsche Bundesbank 27/2013
Abstract: 
Inflation expectations are often found to depend on socioeconomic and demographic characteristics of households, such as age, income and education, however, the reasons for this systematic heterogeneity are not yet fully understood. Since accounting for these expectation differentials could help improve the communication strategies of central banks, we test the impact of three sources of the demographic dependence of inflation expectations using data for Germany. Overall, our findings suggest that household-specific inflation rates and group-specific news consumption accounts for the higher expectation gaps of younger and older households, households with lower income and unemployed survey respondents, while households' inflation perceptions only play a minor role.
Subjects: 
Inflation Expectations and Perceptions
Demographic Heterogeneity
News Media Effects
Household-Specific Inflation Rates
System Estimation
JEL: 
C53
D84
E37
ISBN: 
978-3-86558-940-8
Document Type: 
Working Paper

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