| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP17011 |
| DP17011 Firms’ Inflation Expectations: New Evidence from France | |
| Frédérique Savignac; Erwan Gautier; Yuriy Gorodnichenko | |
| 发表日期 | 2022-02-05 |
| 出版年 | 2022 |
| 语种 | 英语 |
| 摘要 | Using a new survey of firms’ inflation expectations in France, we provide novel evidence about the measurement and formation of inflation expectations on the part of firms. First, French firms report inflation expectations with a smaller, but still positive, bias than households and display less disagreement. Second, we characterize the extent and manner in which the wording of questions matters for the measurement of firms’ inflation expectations. Third, we document whether and how the position of the respondent within the firm affects the provided responses. Fourth, because our survey measures firms’ expectations about aggregate and firm-level wage growth along with their inflation expectations, we are able to show that expectations about wages are even more condensed than firms’ inflation expectations and almost completely uncorrelated with them, indicating that firms perceive little link between price and wage inflation. Finally, an experimental treatment indicates that an exogenous change in firms’ inflation expectations has no effect on their aggregate wage expectations. |
| 主题 | Monetary Economics and Fluctuations |
| 关键词 | Expectations Rational inattention Surveys Firms |
| URL | https://cepr.org/publications/dp17011 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/545958 |
| 推荐引用方式 GB/T 7714 | Frédérique Savignac,Erwan Gautier,Yuriy Gorodnichenko. DP17011 Firms’ Inflation Expectations: New Evidence from France. 2022. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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