Understanding consumer inflation expectations during the COVID-19 pandemic

Gunda Alexandra Detmers, Sui-Jade Ho and Özer Karagedikl

CAMA Working Papers from Centre for Applied Macroeconomic Analysis, Crawford School of Public Policy, The Australian National University

Abstract: We study how individuals’ formation of inflation expectations are affected by the stringent containment and economic support measures put in place during the Covid-19 pandemic. Using the New York Fed Survey of Consumer Expectations (SCE) and the Oxford Covid-19 Government Response Tracker (OxCGRT), we find that policies aimed to contain the pandemic lead to an increase in individuals’ inflation expectations and inflation uncertainty. We also find some heterogeneity in the impact across different demographic groups.

JEL-codes: J31 J64 (search for similar items in EconPapers)
Pages: 23 pages
Date: 2022-02
New Economics Papers: this item is included in nep-cba and nep-mon
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Citations: View citations in EconPapers (8)

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Persistent link: https://EconPapers.repec.org/RePEc:een:camaaa:2022-11

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