Consumer Inflation Expectations: Daily Dynamics

Carola Conces Binder, Jeffrey Campbell and Jane Ryngaert

MPRA Paper from University Library of Munich, Germany

Abstract: We use high frequency identification methods to study the response of consumer inflation expectations to many different types of events. We use data from the Federal Reserve Bank of New York’s Survey of Consumer Expectations. We identify the response of expectations to a large set of shocks, including FOMC announcements, macroeconomic data releases, and news related to the Covid-19 pandemic. The majority of FOMC meetings have no detectable effects on consumer inflation expectations, though certain especially salient announcements have short-lived effects. Good news about the pandemic tends to reduce inflation expectations.

Keywords: inflation expectations; monetary policy; consumer surveys (search for similar items in EconPapers)
JEL-codes: E31 (search for similar items in EconPapers)
Date: 2022-12-15
New Economics Papers: this item is included in nep-cba and nep-mon
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Consumer inflation expectations: Daily dynamics (2024)
Working Paper: Consumer Inflation Expectations: Daily Dynamics (2024)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:117628

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