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Inflation Expectations in Advanced Economies

Author

Listed:
  • Rachel Adeney

    (Reserve Bank of Australia)

  • Ivailo Arsov

    (Reserve Bank of Australia)

  • Richard Evans

    (Reserve Bank of Australia)

Abstract

Anchored inflation expectations are important for price stability because expectations affect current actions. Although all inflation expectations measures provide some information about future inflation, professional forecasters have been the most accurate in predicting future inflation, while market-implied and consumer measures have tended to be less so. Recent declines in inflation expectations have been concentrated in the measures that have historically been less accurate predictors. The more accurate measures have been more stable and have remained close to central banks' inflation targets.

Suggested Citation

  • Rachel Adeney & Ivailo Arsov & Richard Evans, 2017. "Inflation Expectations in Advanced Economies," RBA Bulletin (Print copy discontinued), Reserve Bank of Australia, pages 31-44, March.
    • Handle: RePEc:rba:rbabul:mar2017-04
    as

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    File URL: https://www.rba.gov.au/publications/bulletin/2017/mar/pdf/bu-0317-4-inflation-expectations-in-advanced-economies.pdf
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    Citations

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    Cited by:

    1. Benchimol, Jonathan & El-Shagi, Makram & Saadon, Yossi, 2022. "Do expert experience and characteristics affect inflation forecasts?," Journal of Economic Behavior & Organization, Elsevier, vol. 201(C), pages 205-226.
    2. Benchimol, Jonathan & El-Shagi, Makram, 2020. "Forecast performance in times of terrorism," Economic Modelling, Elsevier, vol. 91(C), pages 386-402.
    3. Inês da Cunha Cabral & Pedro Pires Ribeiro & João Nicolau, 2022. "Changes in inflation compensation and oil prices: short-term and long-term dynamics," Empirical Economics, Springer, vol. 62(2), pages 581-603, February.
    4. Mazumder, Sandeep, 2021. "The reaction of inflation forecasts to news about the Fed," Economic Modelling, Elsevier, vol. 94(C), pages 256-264.

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