Partisan Bias in Inflation Beliefs: New Evidence from Korea

Sangyup Choi, Sang-Hyun Kim, Myunghwan Andrew Lee, Siye Bae and Myungkyu Shim
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Myunghwan Andrew Lee: New York University
Siye Bae: Yonsei University

No 2022rwp-205, Working papers from Yonsei University, Yonsei Economics Research Institute

Abstract: Does partisanship affect household inflation beliefs? This paper answers this question using new online survey data of South Korea, which was run between the presidential election in March 2022 and the presidential inauguration in May 2022, during which participants experienced a regime change. We find that (1) partisan bias affects both inflation expectations and perceived inflation in the past year but (2) self-reported financial literacy mitigates the bias.

Keywords: Inflation expectations; partisan bias; household survey; Blinder-Oaxaca decomposition. (search for similar items in EconPapers)
JEL-codes: E32 I31 (search for similar items in EconPapers)
Pages: 11pages
Date: 2022-11
New Economics Papers: this item is included in nep-fle and nep-mon
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