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Whose expectations augment the Phillips curve?

Carola Binder ()

Economics Letters, 2015, vol. 136, issue C, 35-38

Abstract: This letter uses consumer survey data to estimate expectations-augmented Phillips curves with inflation expectations disaggregated by socioeconomic and demographic groups. The inflation expectations of high-income, college-educated, male, and working-age people play a larger role in inflation dynamics than do the expectations of other groups of consumers or of professional forecasters.

Keywords: Inflation; Heterogeneous expectations; Phillips curve (search for similar items in EconPapers)
JEL-codes: D1 E3 E5 (search for similar items in EconPapers)
Date: 2015
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DOI: 10.1016/j.econlet.2015.08.013

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