Inflation Expectations in the EU: Results from Survey Data
No 2003,13, SFB 373 Discussion Papers from Humboldt University of Berlin, Interdisciplinary Research Project 373: Quantification and Simulation of Economic Processes
Inflation expectations are extracted from the Consumer Survey, which is conducted by the European Commission for the European Union. Using the probability method to quantify the qualitative answers different distribution functions and scaling parameters are assumed to cope with the properties of the data properly. The forecasting ability of respective series is assessed also compared to the balance statistic. Furthermore the time horizon of the survey participants while answering the questionnaire is analyzed, because the empirical results show that it might not coincide with the time horizon implied by the formulation of the question.
Keywords: Inflation expectations; survey data; quantification methods (search for similar items in EconPapers)
JEL-codes: C22 E58 C42 E37 (search for similar items in EconPapers)
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