New Facts about Firms' Inflation Expectations: Short- versus Long-Term Inflation Expectations

Yosuke Uno, Saori Naganuma and Naoko Hara
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Yosuke Uno: Bank of Japan
Saori Naganuma: Bank of Japan
Naoko Hara: Bank of Japan

No 18-E-15, Bank of Japan Working Paper Series from Bank of Japan

Abstract: In this paper, using large-scale firm-level micro-data from the Tankan survey we examine firms' inflation expectations at different time horizons. Our principle findings are twofold. First, with regard to long-term expectations, a number of firms offer no forecasts. Second, and more importantly, the frequency of forecast revisions is higher for longer time horizons.

Keywords: long-term inflation expectations; frequency of forecast revisions (search for similar items in EconPapers)
JEL-codes: E31 E58 (search for similar items in EconPapers)
Date: 2018-10-29
New Economics Papers: this item is included in nep-mac and nep-mon
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Citations: View citations in EconPapers (3)

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