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Household Disagreement about Expected Inflation

Author

Listed:
  • Salomé Fofana

    (London School of Economics (LSE))

  • Paula Patzelt

    (London School of Economics (LSE))

  • Ricardo Reis

    (London School of Economics (LSE))

Abstract

This paper surveys the major facts from research on disagreement between households on what they expect inflation to be. We document them using figures and correlations that capture: the statistical regularities on the observable drivers of disagreement, the measurement of residual disagreement, the usefulness of disagreement to forecast inflation, the response of disagreement to shocks, the disagreement between households and professionals, and the relation between disagreement, risk, and uncertainty.

Suggested Citation

  • Salomé Fofana & Paula Patzelt & Ricardo Reis, 2024. "Household Disagreement about Expected Inflation," Discussion Papers 2418, Centre for Macroeconomics (CFM).
    • Handle: RePEc:cfm:wpaper:2418
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    File URL: https://www.lse.ac.uk/CFM/assets/pdf/CFM-Discussion-Papers-2024/CFMDP2024-18-Paper.pdf
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    More about this item

    Keywords

    Inflation Expectations; Dispersion of Beliefs; Survey Data;
    All these keywords.

    JEL classification:

    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • D90 - Microeconomics - - Micro-Based Behavioral Economics - - - General
    • E31 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Price Level; Inflation; Deflation
    • E70 - Macroeconomics and Monetary Economics - - Macro-Based Behavioral Economics - - - General
    • G40 - Financial Economics - - Behavioral Finance - - - General

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