Sources of dispersion in consumer inflation forecasts

Neven Valev and John Carlson

Applied Economics Letters, 2003, vol. 10, issue 2, 77-81

Abstract: Cross-section dispersion of expected inflation is often explained by differences in information sets across agents, but there is little empirical evidence attesting to that. This paper uses unique survey data from Bulgaria to show that consumers' perceptions of past movements and expectations of future movements in the general price level are influenced by their direct observations of the price dynamics of particular products.

Date: 2003
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Citations: View citations in EconPapers (10)

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DOI: 10.1080/13504850210148152

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